SuccessFactors Improves Financials; Buys Business Networking Firm

SuccessFactors, a provider of workforce management tools, has acquired Silicon Valley startup CubeTree.

The deal, worth up to $50 million, will give SuccessFactors a business-focused social networking component to add to a product suite it describes as “business execution software.” The company also reported that it lost 6 cents a share for the first quarter of the year, down from 10 cents a share last year.

Stronger than expected bookings (sales) helped improve the quarter and also prompted the company to revise its full-year outlook to break-even on revenues of $180-$182 million. While an improvement over past estimates, the new numbers are still below Wall Street’s expectations.

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The CubeTree acquisition was called “key to accelerating SuccessFactors’ BizX opportunity and expand our leadership,” by company CEO Lars Dalgaard.

According to the announcement, “CubeTree solves a critical challenge in business execution: how individuals and teams communicate, share ideas, and come together across organizational silos and geographies to get work done.”

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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