SuccessFactors to Acquire Plateau Systems for $290 Million
SuccessFactors Inc. (SFSF) said it agreed to buy closely held Plateau Systems Ltd., a provider of Web- based software tools for businesses, for $290 million.
The company will pay $145 million in cash and $145 million in stock, Dmitri Krakovsky, vice president of global product management, said in an interview today.
With the acquisition, SuccessFactors adds large customers served by Plateau, including General Electric Co. (GE) and the National Aeronautics and Space Administration. SuccessFactors, a San Mateo, California-based maker of software used to manage employee performance, said that the combined companies would have more than 15 million users in 4,000 businesses.
“Over the last few months, we looked at most of the players in learning management and evaluated a whole bunch of deals,” said Krakovsky. “Ultimately we decided to go for a company that was higher-priced but one of the best companies in the space.”
SuccessFactors slipped as low as $36.90 in extended trading following the announcement. The shares had risen 28 cents to $40.27 at 4 p.m. New York time in Nasdaq Stock Market trading. The stock has climbed 39 percent this year.
To contact the reporter on this story: Douglas Macmillan in New York at dmacmillan3@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
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