Taleo Announces Another Record-Setting Quarter in Q2…from Taleo

July 28, 2010

 

Record Application Revenue of $47.9 Million; Closes Multi-Million Dollar Performance Management Contract Supporting 140,000 Users; Adds Over 200 New SMB Customers; 55% Increase Year-Over-Year

HRchitect featured Taleo in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Kevin Marasco, VP Brand Marketing with Taleo appeared on the HRchitect WebMingle on November 6, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Taleo Corporation (NASDAQ: TLEO), the leading provider of on-demand talent management solutions, today announced its financial results for the quarter ended June 30, 2010.

“Businesses need insight on their people to power growth, and they are turning to Taleo to provide the software solutions and perspective needed to gain that insight,” said Michael Gregoire, Chairman and Chief Executive Officer of Taleo. “Our second quarter results are further validation that our Talent Intelligence framework is delivering value to nearly 4,700 companies around the world and is helping those customers power their businesses.”

Second quarter highlights included:

–  Revenues of $56.3 million, an increase of 14.6% year-over-year.

–  Cash flow from operations of $9.9 million; with total cash of $244.9 million at June 30, 2010.

–  Signed 226 new customers, including 18 new Taleo Enterprise customers and 208 new Taleo Business Edition customers.

–  Closed 8 large enterprise deals with annual contract values in excess of $250,000.

–  Significantly, the largest transaction for the quarter was a multi-million dollar sale of Performance Management to support more than 140,000 employees for an existing Recruiting customer that is one of the world’s largest professional services firms.

Second quarter customer momentum included the addition of the following new customers:

–  ASRC Federal Holding Company, Brinker International, Carnegie  Mellon University, LG Electronics, LLC, Cooper-Standard Holdings Inc.,  Miami Children’s Hospital,  Starplex Cinemas, The Reinalt-Thomas Corporation, Samsung Telecommunications America LLC, Savannah River Nuclear Solutions, Skyy Spirits, and Warner Music Group.

–  Existing Taleo customers that chose to add Taleo solutions to their Talent Management suites included: Adobe Systems Incorporated,  Magellan Health Services Inc., and Swissport USA Inc.

Taleo delivered the following financial results for the second quarter of 2010:

Revenue: Total revenue for the second quarter was $56.3 million, an increase of 14.6% on a year-over-year basis. Application revenue for the second quarter was $47.9 million, an increase of 11.7% on a year-over-year basis.

Net Loss and Net Loss Per Share to Common Stockholders: Net loss was $(1.4) million for the second quarter, compared to a net loss of $(0.1) million for the same period last year. Net loss for the second quarter of 2010 includes $3.2 million in amortization expense related to acquisitions, and $3.7 million in stock-based compensation expense. Net loss per share was $(0.04) for the second quarter, based on 39.4 million weighted average shares outstanding, compared to approximately breakeven for the same period last year, based on 30.4 million weighted average shares outstanding.

Non-GAAP Net Income and Non-GAAP Net Income Per Share to Common Stockholders: Non-GAAP net income was $6.1 million for the second quarter, compared to non-GAAP net income of $5.5 million for the same period last year. Non-GAAP net income includes amounts excluded from GAAP revenue due to the write down of the deferred revenue associated with purchase accounting for the Worldwide Compensation and Vurv acquisitions, and excludes costs associated with our 2009 restatement-related revenue review, acquisition related transaction costs, stock-based compensation expense, amortization of acquired intangibles, and the gain on re-measurement of a previously held interest in Worldwide Compensation. Non-GAAP net income per fully diluted share was $0.14 for the second quarter based on 42.7 million fully diluted weighted average shares outstanding, compared to non-GAAP net income per fully diluted share of $0.17 for the same period last year based on 32.6 million fully diluted weighted average shares outstanding.

For more information on Taleo, please visit www.taleo.com
Matt Lafata, HRchitect

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HireVue Secures $5 Million in Series B Funding…from HireVue

July 27, 2010

 

Granite Ventures Leads Investment; Managing Director Chris Hollenbeck Joins Board

If you are looking for a new Talent Acquisition System, Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

HireVue, Inc. (http://www.hirevue.com) the premier provider of video interviewing and decision management solutions announced today the closing of its Series B financing totaling $5 million. The round was led by new investor, Granite Ventures, with participation from previous investors, including JCP Capital.

“The perfect hiring process should be empowering to a company and its candidates rather than feeling like a necessary burden,” says Mark Newman, CEO and co-founder of HireVue. “HireVue makes this possible and we are excited to partner with a firm of Granite’s caliber to help us build on that vision.”

HireVue pioneered the concept of web based, video-driven interview and decision management solutions to hire top talent. Over the past 12 months HireVue has increased sales over 1200% and more than doubled its client base with companies such as PNC Bank, Dow Jones, CDW, Petco, and others.

HireVue’s solutions include both one-way virtual and four-way live video interviews that are recorded to the HireVue system and used to screen candidates in the hiring process. HireVue’s proprietary candidate evaluation tools are used to easily compare, contrast, and assess candidates in a way unlike anything available in the HR technology space today.

“We invested in HireVue because they not only have a proven business model, but some of the most passionate customers I’ve ever come across,” said Chris Hollenbeck, Managing Director of Granite Ventures. “HireVue has the power to revolutionize hiring as we know it. We fully expect to see HireVue become a standard work application in the coming years.”

HireVue also announced that Chris Hollenbeck will join its Board of Directors. Mr. Hollenbeck is currently a Director of companies such as Convio and Decision View among others. He sponsored Granite’s investments in personalized job search firm Trovix which was acquired by Monster Worldwide in 2008 as well as Digimarc), and Vignette prior to its acquisition by Open Text. Mr. Hollenbeck was a member of the Boards of AvantGo prior to its acquisition by Sybase, Episodic prior to its acquisition by Google, and of Liquent prior to its acquisition by Information Holdings.

For more information on HireVue, please visit www.hirevue.com
Matt Lafata, HRchitect

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U.S. Army Major General Campbell to Provide Keynote Presentation at Fifth Annual Kenexa World Conference…from Kenexa

July 22, 2010

 

Presentation to Focus on Transformation of U.S. Army Recruiting Command

HRchitect featured Kenexa in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Ron Hanscome, VP of Product Strategy with Kenexa appeared on the HRchitect WebMingle on June 26, 2009 and Derek Bluestone, VP Product Marketing appeared on June 17, 2010. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Kenexa (NASDAQ: KNXA), a global provider of business solutions for human resources, today announced that Major General Donald M. Campbell, Jr., Commanding General of the United States Army Recruiting Command, will join other illustrious speakers, including best-selling author Malcolm Gladwell, as a keynote speaker at the upcoming 2010 Kenexa World Conference. Happening Tuesday, September 21 through Thursday, September 23, 2010, in Philadelphia, Pa., the Kenexa World Conference will give companies the information they need to transform HR and move from potential to performance.

Major General Campbell joins an impressive roster of keynote speakers for the event, which now includes Malcolm Gladwell, Sam Fouad of Ernst & Young, and Peter Goerke of Zurich Insurance Company. Major General Campbell’s presentation, titled “Transforming Recruiting Command,” will provide a brief insider’s look at the United States Army Recruiting Command and how it is currently performing. Then, Major General Campbell will share how the command is transforming its individual-based achievement system to a team-based system through the pinnacle recruiting center concept, a new recruiting plan of operation.

Before assuming command of the U.S. Army Recruiting Command in May 2009, Major General Campbell was Commanding General, U.S. Army Armor Center and Fort Knox. He is a Distinguished Military Graduate of Kansas State University. Commissioned an armor officer in May 1978, his initial assignment was with the 1st Battalion, 63rd Armor at Fort Riley, Kan., where he served as a Tank Platoon Leader, Company Executive Officer, Battalion S1/Adjutant and Company Commander. His decorations include the Distinguished Service Medal, Legion of Merit with three Oak Leaf Clusters, Bronze Star Medal with “V” device, Bronze Star Medal with Oak Leaf Cluster, Defense Meritorious Service Medal, Meritorious Service Medal with silver Oak Leaf Cluster, Army Commendation Medal with two Oak Leaf Clusters, Army Achievement Medal with Oak Leaf Cluster, Combat Action Badge, Parachutist Badge, and Recruiter Badge.

The fifth annual Kenexa World Conference promises to transform HR through outliers, helping organizations move beyond potential to drive business performance. To reveal true human potential to improve business results, companies must identify and nurture high performers and create the right environment for them to thrive. Attendees of the conference will come to understand how the right individuals in the right environment lead to ultimate success.

The 2010 Kenexa World Conference will be held at The Sheraton Society Hill Hotel, One Dock Street, Philadelphia, Pa. For more information or to register, please visit www.kenexa.com.

For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect

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GeoLearning Tops Learning and Talent Management Buyer Survey Conducted by E-Learning! Magazine…GeoLearning

July 19, 2010

 

HRchitect includes GeoLearning in our list of top Learning Management Systems that businesses should consider. GeoLearning competed in the HRchitect Beauty Pageant on Learning Management Systems in December 2008, where they were crowned the winner. Also, Todd Premo, Director of Solutions, and Chris Lennon, Senior Product Manager, from GeoLearning appeared on the HRchitect WebMingle on February 6, 2009. 

If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

GeoLearning, Inc., provider of the leading Software as a Service (SaaS) GeoMaestro Learning Management System (LMS) and comprehensive Managed Learning Services  was named the top LMS brand by awareness in the 2010 Learning and Talent Management Buyer Survey conducted by E-Learning! Magazine. This study of 316 organizations provides insights into the features enterprises require, the composition of the buying team, brand awareness, and ratings of the current LMS and Talent Management (TMS) systems.

GeoLearning led the list as the top LMS brand currently used. Also, when survey participants were furnished with a list of LMS brands (prompted), GeoLearning continued to be the forerunner over other perennial LMS favorites. Similarly, GeoLearning secured a top position in the TMS brand awareness list. GeoLearning was second only to its talent and performance management partner, SuccessFactors, and was the highest ranking LMS/TMS suite in that category.

The study goes on to mention that course tracking, testing and authoring are mainstays of LMSs. However, future buyers seek more capabilities—including rapid development and collaboration—as well as talent features like performance management, skills-gap analysis and integrated enterprise features. The LMS and TMS survey research summary is available online at Learning Pros Looking to Update Their Current Learning & Talent Systems.

For more information on GeoLearning, please visit www.geolearning.com
Matt Lafata, HRchitect

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Mark Goldin Joins Cornerstone OnDemand as Chief Technology Officer…from Cornerstone OnDemand

July 17, 2010

 

Leading talent management software company hires tech industry veteran to support company’s rapid growth

HRchitect featured Cornerstone OnDemand in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems and top Learning Management Systems vendors that businesses should consider. Charles Coy participated in the HRchitect WebMingle on January 16, 2009. Cornerstone OnDemand participated in the Talent Management Systems Beauty Pageant in December 2008, where they were crowned the winner. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Cornerstone OnDemand Inc., the leading provider of integrated learning and talent management software and services, announced today it has appointed Mark Goldin as the company’s Chief Technology Officer. As CTO, Goldin will execute Cornerstone’s overall technology strategy and will lead the engineering team in support of the company’s continued aggressive growth.

Goldin joins the Cornerstone team with more than 15 years of experience as a Chief Technology Officer leading high growth companies to market leadership positions through technology-driven strategies. Prior to joining Cornerstone, Goldin was the Chief Operations and Technology Officer at Green Dot Corporation where he oversaw application development, IT infrastructure, supply chain and logistics, and call center operations with a team that helped grow valuation by greater than a factor of 10 in just three years. Prior to this, Goldin served as Senior Vice President and CTO at Thomson Elite where he conceived, founded and ran Software-as-a-Service (SaaS) pioneer Elite.com and helped lead the company to market dominance. Goldin also held positions as CTO at DestinationRx and Managing Director at Trace Alexander Ltd.

In his new role at Cornerstone, Goldin will be instrumental in building and directing the company’s technology strategy, which will allow the organization to scale effectively and efficiently in the midst of rapid growth.  He will oversee application architecture, development, quality assurance and technology operations while leading a world-class team of engineers to assure Cornerstone’s continued excellence in providing innovative and feature-rich talent management software.

“I am delighted to be leading the technology team at Cornerstone, one of the best I have ever worked with.  In many ways, my career has been leading up to this,” said Goldin.

“Mark’s wealth of technology experience and proven leadership skills make him a great addition to our team,” said Adam Miller, President and CEO of Cornerstone OnDemand. “His extensive experience with all aspects of building and managing web-based enterprise software solutions will be critical to ensuring we scale efficiently as we continue to innovate and grow rapidly.” 

For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.
Matt Lafata, HRchitect

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Softscape Achieves Record-Breaking Results in First Half of 2010 with Increased Sales & Continued Profitability…from Softscape

July 14, 2010

 

Strong Market Momentum from Recent Softscape Innovations Drives Growth Across Company’s Entire HR Product Platform

HRchitect featured Softscape in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems vendors that businesses should consider. Dave Watkins, Softscape’s CEO and Co-Founder appeared on the HRchitect WebMingle on June 19, 2009.

If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Softscape, an innovator powering complete people management solutions, today announced a 263% growth in Q2-2010, compared to Q1-2010, with a surge of new business across its global operations. The company attributes this rapid growth to increasing demand specifically for Softscape’s broader and more complete HR technology infrastructure that enables organizations to better manage workforce efficiencies and prepare for business growth as the global economy begins to accelerate.

Softscape delivered sustained business expansion and profit with all global divisions contributing to strong performance year-to-date leading to a record-breaking second quarter, and a 29% overall growth for the first half of the year. The second quarter of 2010 also represented a 92% increase over the same period last year, including a 71% increase in sales for the company’s cloud offering. Net sales rose 94% in the US alone for the first half of 2010, compared to last year. The majority of new customers, nearly 80%, are purchasing multiple software suites at initial contract which represents an increasing trend across the market. The average deal size for the company also nearly doubled, with many multi-million dollar global contracts signed, as more and more organizations recognize the value of a single and complete HR software platform.

The company’s new customers range in size and across diverse industries including Agriculture, Transportation, Business Services, Computer Software, Construction, Energy & Utilities, Food & Beverage, and Manufacturing. New customers have included 7-Eleven, Dave & Buster’s, and JE Dunn, as well as growing partnerships and resellers across the globe such as Ascendis in Romania, Human Dynamics in South Africa, and HMP in Germany.

Softscape also recently announced several new product innovations: 

  • New People Advisor™ series for real-time view of workforce effectiveness while helping managers make better and more informed decisions.
  • Smart Coaching™ to highlight potential workforce problems with embedded expert direction for leaders upon which they can easily act.
  • Talent-based Learning Platform with significant new capabilities including new “My Learning” portal, enhanced certification and compliance tracking, new social-based learner views, and enhanced demand management.
  • Manager Insight™ with advanced searching and expanded social networking-based user interface spanning entire platform.
  • Hiring & Recruiting assessments with Gallup integration to better assess and select top candidates.
  • Talent Mobility™ solution to reduce top performer flight by providing improved global visibility and processes for talent rotation.

 In addition, newly established efficiency programs across the company’s service and support organizations have also contributed to on-going improvements with a direct positive impact on operating income and profit margins. Operational efficiencies include new methodologies and internal processes for managing new customer on-boarding, system and requirement analysis, implementation and deployment, support and customer care, as well as development efficiencies for rapid product advancements.

“We continue to innovate the industry with groundbreaking developments that are rooted in helping customers today and tomorrow,” said Dave Watkins, CEO and co-founder of Softscape. “Softscape’s continued growth has enabled us to further invest in advancing how organizations can better manage their workforce. Our forward approach, and deep analysis of where this market is heading and how organizations can better navigate the changing economic and workforce conditions, is testament to our on-going dedication to the market and our customers.”

For more information about Softscape’s solutions, please visit http://www.softscape.com.
Matt Lafata, HRchitect

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SilkRoad technology Wins HRtechnology Ironman…from SilkRoad

July 6, 2010

 

HRchitect’s latest educational webinar series pits software vendors against one another

HRchitect featured SilkRoad in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. SilkRoad competed in the HRchitect Beauty Pageant on Onboarding Systems in January 2009, and the HRchitect IRONMAN on Mid-Marketing Talent Acquisition Systems on June18, 2010, where they were crowned the winner of each. Brian Platz, EVP and COO of SilkRoad also appeared on the HRchitect WebMingle on March 20, 2009. Finally, HRchitect attended the SilkRoad user conference, SilkRoad Connections, in May 2010.

If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

SilkRoad technology, inc., a leading provider of talent management solutions, announced today the company was named the winner of the June 2010 HRtechnology Ironman. SilkRoad’s market leading Life Suite product OpenHire competed in the Mid-Market Talent Acquisition Systems Ironman competition on June 18th.

The competition is the latest in HRchitect’s educational webinar series and has software vendors compete against one another to prove who can “swim better,” “bike stronger” and “run faster.” HRchitect recently developed the series of webinars as a way to educate consumers on the human resource technology choices available.

In these fast-paced web events, vendors compete head-to-head in each category. Spectators then vote after each portion and the vendor with the most total votes receives the medal and is named HRtechnology Ironman. In the competition vendors must prove their advantages over the competition in each category including:

Swimming – In this category vendors discuss company history, overview, specific identity, financial viability, marquee clients and leadership team.

Biking – During the biking portion the vendors showcase their product’s functionality, technology/integration, usability and configurability.

Running – In this segment of the competition the vendors discuss the key differentiators of their solution and their company.

Media Interviews – Finally, the vendor is judged based on answers to questions from the audience.

At the conclusion of the competition, SilkRoad technology was voted the winner and named HRtechnology Ironman.

“We enjoyed participating in the webinar and are honored the audience selected us as the Ironman winner,” said Thomas Boyle, Director of Product Strategy, SilkRoad technology. “We always welcome any opportunity to show what sets our products and company apart from other vendors.”

SilkRoad provides Web-based talent management solutions, including OpenHire, a market-leading recruiting management solution, RedCarpet, onboarding and life events management solution, WingSpan for flexible employee performance management, GreenLight for learning management, Eprise for employee intranets and content management and HeartBeat for core HR.

You can see SilkRoad’s winning Ironman webinar here.

For more information on SilkRoad, please visit www.silkroad.com
Matt Lafata, HRchitect

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Fifth Annual Kenexa World Conference to Feature Keynote Presentations from Customers Ernst & Young, Zurich Insurance Company…from Kenexa

July 5, 2010

 

Presentations to Focus on Alignment of Business and HR, Delivering on the Employer Promise

HRchitect featured Kenexa in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Ron Hanscome, VP of Product Strategy with Kenexa appeared on the HRchitect WebMingle on June 26, 2009 and Derek Bluestone, VP Product Marketing appeared on June 17, 2010. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!

Kenexa (NASDAQ: KNXA), a global provider of business solutions for human resources, today announced two additions to its keynote speaker lineup for the upcoming 2010 Kenexa World Conference, which will be held Tuesday, September 21 through Thursday, September 23, 2010, in Philadelphia, Pa. Joining a stellar roster of speakers that includes a keynote presentation from best-selling author Malcolm Gladwell, Sam Fouad of Ernst & Young and Peter Goerke of Zurich Insurance Company Ltd. will provide their perspectives on the complex issues affecting employees and organizations today.

As Global Managing Partner – People at Ernst & Young, Fouad is responsible for ensuring the company’s 144,000 employees receive market-leading opportunities for personal and professional development. During his presentation, “Aligning the strategy and operations of business and HR in a dynamic global economy,” Fouad will explain the importance of knowing and understanding a company’s true business imperatives while creating a people culture that is special to the organization and its clients. Exploring how to improve, nurture and prove the people culture to employees, Fouad also will share how Ernst & Young has successfully built a consistent culture around the world.

Peter Goerke, Group Head of Human Resources for Zurich Insurance Company Ltd., will present “Leveraging your employer promise to attract, engage and retain talent,” which will address how to clearly articulate the employer promise and deliver on it to create the right environment for long-term success. With responsibility for creating an engaged employee population at Zurich, an insurance-based financial services provider with 60,000 employees, Goerke knows how to enhance employee engagement through an integrated talent management platform, demonstration of the company’s core values, active management of the company’s brand and a focus on global development opportunities.

The fifth annual Kenexa World Conference promises to transform HR through outliers, helping organizations move beyond potential to drive business performance. To reveal true human potential to improve business results, companies must identify and nurture high performers and create the right environment for them to thrive. Attendees of the conference will come to understand how the right individuals in the right environment lead to ultimate success.

The 2010 Kenexa World Conference will be held at The Sheraton Society Hill Hotel, One Dock Street, Philadelphia, Pa. More information is available at www.kenexa.com.

For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect

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ADP Enters Agreement to Acquire Workscape …from ADP

July 1, 2010

 

Acquisition Will Significantly Expand ADP’s Presence in the Benefits Marketplace

HRchitect featured Workscape in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems vendors that businesses should consider. Tim Clifford, President and CEO of Workscape, appeared on the HRchitect WebMingle on May 15, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.

ADP®, a leading provider of HR, payroll, and benefits administration services, today announced it has entered into a definitive agreement to acquire privately-held Workscape, Inc., a leading provider of integrated benefits and compensation solutions and services.

Based in Marlborough, Mass., Workscape serves a broad client base, including numerous Fortune 250 companies, and provides solutions to more than 3.5 million users with services deployed in over 180 countries, 48 currencies and 70 languages. As such, the acquisition will significantly expand ADP’s presence within the benefits marketplace for large, complex organizations.

Closing of the acquisition is expected in the third quarter of calendar 2010 and is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is not subject to financing. Terms of the proposed agreement were not disclosed.

For more information on ADP, please visit www.adp.com

For more information on Workscape, please visit www.workscape.com
Matt Lafata, HRchitect

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