Oracle buys SelectMinds

Tech giant Oracle is back on the acquisition trail having now purchased SelectMinds, a cloud-based social talent sourcing and corporate alumni management application company used by recruiters that will bolster its biggest deal of the year. No price has been revealed for the deal.

This is the third recent acquisition by Oracle and the eighth this year. This latest deal complements its earlier $1.92 billion acquisition of cloud-based human resource management application vendor Taleo.

SelectMinds will work with that division at Oracle as the company bets that social networking will continue to drive how companies find new employees.

“Recruiting candidates through employee referrals is widely acknowledged as the most effective method to find talent through trusted contacts,” said Oracle executive vice president Thomas Kurian. “Making recruiting efforts efficient and seamless by leveraging social connections and through mobile applications helps companies find better quality candidates and continue to build the pipeline for future talent.”

Several of Oracle’s other purchases have been built around social marketing programs.

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