Best known for helping people judge their market value, the company integrates a competency library acquired from Schoonover Associates.
By Garry Kranz Comments 0 | Recommend 0
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.”
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
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