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9/17/2012 4:11 PM ET

Oracle Corp. (ORCL: Quote) announced Monday that it has entered into an agreement to acquire SelectMinds, a provider of cloud-based social talent sourcing and corporate alumni management applications.

The combination of Oracle and SelectMinds' complementary social sourcing capabilities is expected to create a comprehensive recruiting, candidate sourcing, and talent management offering for organizations to reach quality referrals through social recruiting, Oracle said.

Oracle noted that SelectMinds products are already fully integrated with Oracle Cloud Recruiting, Performance Management and Human Capital Management solutions and further extend Oracle's social and mobile initiatives into talent management.

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