Human capital management software provider SuccessFactors Inc. yesterday said it plans to acquire workforce planning vendor Inform Business Impact for $40.5 million in cash and stock.
The deal, which is expected to close in the third quarter, moves SuccessFactors more directly into competition with other providers of workforce planning and scheduling software, such as Kronos Inc. and Oracle Corp.
The acquisition announcement came on the same day that SuccessFactors revealed its fourth-quarter financial results, disappointing financial analysts by predicting that, for the full year 2010, it expects break-even earnings. Analysts had been expecting earnings of 11 cents per share, according to Thomson Reuters.
SuccessFactors’ shares fell 8% in after-hours trading Thursday, but more than made up for it today, rising 12% to stand at $16.16 per share at press time.