Oracle to pay $1.9B for personnel software co. (AP)

NEW YORK ? Oracle is paying $1.9 billion for Taleo Corp., a company that helps businesses manage their employees.

The planned purchase of Taleo extends Oracle's offerings in the growing arena of cloud-based computing. With such an approach, businesses don't run software and services in-house, but rather send those tasks to remote locations operated by companies such as Oracle and IBM Corp.

Taleo, based in California, makes human-resources software that runs on the cloud.

Oracle is paying $46 a share for Taleo stock. That is 18 percent above Wednesday's closing price of $38.94.

Taleo's stock rose 18 percent to $45.85 in pre-marking trading. Oracle's gained 9 cents to $28.82.

Source: http://us.rd.yahoo.com/dailynews/rss/software/*http%3A//news.yahoo.com/s/ap/20120209/ap_on_hi_te/us_oracle_taleo_acquisition

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