In a press release from Saba Software, Inc., it was announced that they would acquire Halogen Software, Inc (TSX:HGN), a leading provider of cloud-based performance management solutions. According to the announcement, the principles of the deal included Saba, Vector Capital and its affiliates, and Michael Slaunwhite, Halogen’s co-founder, Executive Chairman and largest shareholder. The expected close date of the transaction is planned for the second quarter of 2017.
The deal itself is intended to strengthen Saba’s position as a leading provider of end-to-end SaaS Talent Management solutions, and their combined customer base will total more than 4,000 customers globally. The other outcome sought in the merger is that together, they could increase value to their customers by using their size and scale to deliver rapid innovations in the talent management space.
Within the press release statement, Saba CEO Pervez Qureshi made the following summary of the acquisition. “Saba has a clear vision for the future of talent development and understands the powerful role learning and engagement experiences play in driving individual and business performance,” said Pervez Qureshi, CEO of Saba. “Combining Saba’s unrivaled learning and engagement capabilities with the proven innovation Halogen brings to performance management, we expect to accelerate delivery against this vision and rapidly create new value for our joint customers. This strong foundation for growth and innovation and our combined expertise will enable Saba to meet the ever-changing workplace needs of people and help organizations more effectively adapt, perform and thrive.”
Les Rechan, President and CEO of Halogen also commented that, “As part of Saba, Halogen’s next generation performance vision is expected to accelerate by pairing our deep expertise in performance with the pioneers in continuous learning, collaboration, and engagement. Both Halogen and Saba’s cultures share an unwavering focus on customer success. Together, we believe we can deliver on the future of people-centric, team-optimized performance, development, and engagement, and deliver it on a global scale, and with the unrivaled customer experience Halogen is known for.”
“We have built Halogen into a market leader in performance management by investing in the talented and innovative team that began here in Ottawa more than 20 years ago,” said Michael Slaunwhite, Executive Chairman of Halogen Software. “I look forward to joining forces with Vector Capital and Saba. Together, we have the opportunity to scale faster and lead the way in performance, learning, and engagement and expand our global impact.”
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