- Associated Press - Wednesday, September 1, 2010

DUBLIN, CALIF. (AP) - Human resources software maker Taleo Corp. said Wednesday it has agreed to buy software company Learn.com Inc. for $125 million in cash.

Under the terms of the deal, Taleo agreed to offer up to $2 million of interim financing in connection with the acquisition, to be drawn down by Learn.com. Any amount outstanding when the transaction closes will be deducted from the purchase price.

The deal is expected to close at the end of the year.

Taleo said the acquisition will strengthen its position in the learning management systems market.

Learn.com’s products are used by more than 500 companies worldwide, Taleo said.

Both companies have been strategic partners since September 2009.

Taleo shares rose $1.27, or nearly 5 percent, to $26.90 on Wednesday.

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