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December 6, 2011
martinwolf Transaction Analysis
SuccessFactors, Inc (NYSE: SFSF) to acquire Jobs2Web, Inc.

martinwolf Analysis
  • SuccessFactors, Inc. (NYSE: SFSF) signed a definitive agreement to acquire Jobs2Web, Inc, an interactive recruitment marketing company, just a few days after SAP announced that it would be acquiring SuccessFactors on December 3.
  • Jobs2Web is expected to strengthen SuccessFactors' recruitment management offering by providing a SaaS-based interactive recruiting platform, and together with SAP, will establish all of the necessary pieces of an integrated Core Human Resource Management System.
  • The transaction represents the third buy-side deal for SFSF in 2011; it acquired Plateau Systems Ltd in April and Jambok, Inc in March.
  • martinwolf expects further consolidation in the space as Oracle's acquisition of RightNow Technologies in October and SAP's planned acquisition of SFSF provide clear reference points on how SaaS -based high growth companies are valued; namely driven by revenue, gross margins, and growth rates.
  • Further consolidation in the Human Capital Management (HCM) space, particularly in the large enterprise market, is expected to gain momentum into 2012 and valuations for SaaS-based companies are expected to remain high and based largely on revenue multiples.
  • In addition, privately owned SaaS companies in the HCM space thinking of M&A should consider potential combinations that can accelerate their revenue growth trajectories, particularly since organic growth may become tougher to come by as the time to market advantage is now over.
  • This acquisition is consistent with the increased valuations of SaaS-based businesses that can be found in the martinwolf MW Index.


Please click here to read the press release.  


martinwolf was not the adviser of this transaction. To learn more about this transaction or our firm, contact Yousif Abudra at  or (925) 215-2760.   

About martinwolf    


Based in Silicon Valley, martinwolf is a leading middle market M&A Advisory focused on companies with services-based business models. Since 1997, our team has completed more than 100 transactions in six countries. We are a five-year member of the Merrill Lynch PS Referral Network, and were selected as ICICI Bank's (India's leading private bank) exclusive strategic partner for acquiring U.S. IT companies. martinwolf is a member of FINRA and SIPC. For more information, visit


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