NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that it has entered into a definitive agreement to acquire TribeHR, a leading provider of Human Capital Management (HCM) solutions, to create the first integrated cloud ERP and HCM software suite for small and mid-sized businesses (SMBs). The proposed acquisition would create a single cloud solution for modern SMBs with the ERP power to run their core business operations as well as a rich, social HR software solution to manage employees. The proposed acquisition is subject to customary closing conditions. The terms of the proposed acquisition were not disclosed.
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 of 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.”
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