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NetSuite enters acquistion deal with TribeHR

NetSuite enters acquistion deal with TribeHR 

The agreement has not yet been finalized, but the proposed acquisition would provide a single-cloud solution to businesses, with the ERP aspect to run core business operations and the HR software solution for employee management.

“TribeHR is a rare HR software solution that combines the rich traditional HCM capabilities needed to manage growing organizations with an engaging social interface that encourages employee involvement and collaboration,” said Zach Nelson, CEO, NetSuite.

“TribeHR’s engaging system of record for employee activity, together with NetSuite’s single system of record for core operational business data gives SMBs a modern, single system to run the core aspects of their business—all with the scalability, flexibility and agility of the cloud.”

TribeHR has been part of the NetSuite SuiteCloud Developer Network since 2013, and currently has nearly 30 joint customers with NetSuite. TribeHR’s suite of HCM services include recruiting capabilities, talent management functionality, social HR, mobile support for iOS devices, and a core HR Information System to manage employee information and compensation.

The terms of the proposed acquisition were not disclosed, but NetSuite will give further details at its third quarter 2013 earnings call on October 24.

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