NetSuite Inc. has entered into a definitive agreement to acquire human capital management solutions provider TribeHR, with the intent of creating an integrated cloud ERP and HCM software suite for small and midsized businesses.
The proposed acquisition is subject to customary closing conditions, the terms of which were not disclosed.
Founded in 2009, TribeHR is headquartered in Waterloo, Ontario and has more than 450 customers operating in more than 50 countries around the world. In 2013, TribeHR joined the NetSuite SuiteCloud Developer Network, created the TribeHR SuiteApp, and now has nearly 30 joint customers with NetSuite.
“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 NetSuite chief executive Zach Nelson. “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.”