Salary.com Spends Money to Make Money

Going Beyond Pay: Salary. com  says it has acquired the assets of Schoonover Associates Inc., a provider of competency-based performance development systems. The deal includes Schoonover’s library of more than 2,000 leadership and job-specific competencies. Waltham, Massachusetts-based Salary.com paid $3.5 million in cash. However, should it meet certain performance targets, Schoonover is eligible to earn up to $500,000 in additional cash and $1.5 million worth of stock. The deal follows on the heels of a July 2007 agreement in which Salary.com secured an “evergreen” license for Schoonover’s competency library. Also of note: San Francisco-based Jobvite, which bills itself as an on-demand recruitment company, says it has received $7.2 million from investors to “expand product development, marketing and sales efforts.”