Current HR Marketplace Earnings and M&A News

The following quarterly HR marketplace earnings and M&A announcements are aggregated by www.HRmarketer.com, the leading online marketing and PR service for the human capital industry. HR Marketer lists the previous quarter's earnings from publicly traded HR companies and all the exciting M&A activity in the growing HR space.

Archives: Fall 2006 | Winter 2006/2007

Spring 2007

Previous Quarter’s Earnings:

• Adecco ( ADO): Reported its profit rose 23 percent for the fourth quarter, helped by a tax benefit and a strong performance in France. The company earned 212 million euros ($280 million) in the period, compared with 171 million euros for the same quarter last year. Sales rose 8 percent to 5.3 billion euros ($7 billion) from 4.89 billion euros for the same period last year.

• Automatic Data Processing Inc. (ADP): Reported its fiscal second-quarter profit rose as sales increased. For the quarter ended Dec. 31, the company earned $297.7 million, or 54 cents per share, up 15 percent from $259.7 million, or 45 cents per share, during the same period in the previous year. The most recent quarter's results included expenses from a spinoff, totaling $5 million, or a penny per share, which will be reclassified as discontinued operations.

• Aetna Inc. (AET): Reported fourth-quarter 2006 operating earnings, excluding prior-period favorable reserve development and a previously announced severance charge, of $0.76 per share. Including the severance charge of $0.03 per share, operating earnings, excluding reserve development, were $0.73 per share, an increase of 18 percent compared to the prior-year quarter. Prior-period favorable reserve development was $0.05 per share. The increase in operating earnings reflects revenue growth from year-over-year membership growth and premium and fee rate increases, as well as solid underwriting results and continued general and administrative expense efficiencies. Fourth-quarter net income was $0.80 per share, an increase of 14 percent over the prior-year quarter.

• Aflac (AFL): Reported its fourth quarter results of total revenues were $3.7 billion during the fourth quarter of 2006, compared with $3.6 billion a year ago. Net earnings were $332 million, or $.67 per diluted share, compared with $364 million, or $.72 per share, a year ago. The decline in net earnings primarily resulted from lower realized investment gains, which were $3 million, or $.01 per diluted share in the fourth quarter of 2006, compared with $68 million, or $.14 per share, a year ago.

• Aon Corp. (AOC): Reported a flat fourth-quarter profit, as higher revenue was weighed down by losses from discontinued operations. The company also disclosed it has uncovered some incorrect measurement dates for past stock options grants. Net income was flat at $224 million, but per-share earnings rose to 68 cents from 65 cents a year ago because the latest quarter had fewer shares outstanding. Earnings from continuing operations soared 85 percent to $189 million, or 58 cents per share. Excluding certain items, income from continuing operations in the latest quarter was 67 cents per share, compared with 47 cents a year earlier.

• Administaff Inc. (ASF): Reported its fourth quarter profit grew 22 percent on revenue growth and higher gross profit. Net income rose to $13.4 million, or 47 cents per share, from $10.9 million, or 39 cents per share in the prior year period.

• On Assignment, Inc. (ASGN): Reported revenues for the quarter ended December 31, 2006 of $76,529,000. Net income for the quarter was $6,129,000, or $0.20 per share. Earnings before interest, taxes, depreciation and amortization (EBITDA) was $4,927,000 and Adjusted EBITDA (EBITDA plus equity-based compensation expense) was $6,004,000.

• Callidus Software Inc. (CALD): Reported financial results for the fourth quarter and the year ended December 31, 2006. Total fourth quarter revenues were the highest in the Company's history at $24.1 million, an increase of 40% compared to the fourth quarter 2005. Fourth quarter license revenues were $9.1 million, an increase of 25% compared to the fourth quarter 2005.

• CDI Corp. (CDI): Reported ts fourth-quarter earnings more than doubled and sales grew more than 10 percent. The company said its net income grew to $6.8 million, or 34 cents per share, from $3.3 million, or 16 cents per share, in the fourth quarter of 2005.

• Ceridian Corporation (CEN): Reported fourth quarter 2006 net earnings of $49.6 million, or $.35 per diluted share, on revenue of $404.0 million. For the fourth quarter of 2005, net earnings were $46.7 million, or $.32 per diluted share on revenue of $379.5 million. For the year ended December 31, 2006, net earnings were $173.6 million, or $1.20 per diluted share, on revenue of $1,565.1. For the year ended December 31, 2005, net earnings were $127.9 million, or $.86 per diluted share, on revenue of $1,459.0 million.

• Cigna Corp. (CI): Reported its fourth-quarter profit rose more than 10 percent as medical spending fell. Shares of Cigna rose $2.83, or 2.06 percent, to close at $139.95 on the New York Stock Exchange. Earlier in the day, shares hit a new 52-week high of $142.38. In the quarter, Cigna posted a net income of $232 million, or $2.28 per share. That's up from $210 million, or $1.67 per share, during the same period a year ago.

• Concur Technologies Inc. (CNQR): Reported financial results for its first quarter ended December 31, 2006. Concur reported total revenue for the first quarter of fiscal 2007 of $29.2 million, driven by subscription revenue which was up 68% from the year- ago quarter. Total revenue for the quarter was up 52% from the year-ago quarter and up 6% sequentially. Fiscal 2007 first quarter net income, which includes a provision for income taxes of $1.4 million, was $1.0 million, or $0.02 per share, and was above company expectations. This compares to net income of $0.6 million, or $0.02 per share, in the year-ago quarter, which did not require a full provision for income taxes.

• ChoicePoint Inc. (CPS): Reported its profit dropped more than 14 percent in the fourth quarter even as sales rose more than 7 percent. The results were in line with Wall Street expectations when one-time items are excluded. Choicepoint, which collects, sells access to and analyzes consumers' personal information, said it earned $23.67 million, or 30 cents per share, for the three months ending Dec. 31, compared to a profit of $27.68 million, or 30 cents per share, for the same period a year ago.

• Convergys Corp. (CVG): Reported its fourth-quarter earnings nearly doubled on higher revenue in its customer and employee care segments. Net income climbed to $44.5 million, or 32 cents per share, from $23.4 million, or 16 cents per share, in the year-ago period. The result beat the average Wall Street estimate by 2 cents per share, according to a Thomson Financial poll.

• The Corporate Executive Board Company (CEB): Reported its fourth-quarter profit rose 9 percent, as its membership rolls continue to grow. Quarterly earnings grew to $23.2 million, or 58 cents per share, from $21.3 million, or 52 cents per share, in the prior-year period. Excluding stock-based compensation costs, adjusted profit totaled 68 cents per share in the latest period. Revenue rose 26 percent to $125.5 million from $99.8 million.

• Gevity HR Inc. (GVHR): Reported its f ourth quarter revenue increased 1.5% to $156.5 million compared to $154.2 million for the same period last year. Revenue growth in the quarter was primarily the result of a 14.4% increase in professional service fee per average client employees paid and a 3.5% decline in the average number of client employees paid. Its fourth quarter earnings per share increased 28.1% to $0.41 per diluted share compared to earnings per diluted share of $0.32 for the same period last year, adjusted for stock-based compensation expense.

• Hewitt Associates Inc. (HEW): Reported its first-quarter net income fell 5 percent, weighed down by charges. Quarterly profit totaled $30.1 million, or 27 cents per share, down from $31.5 million, or 29 cents per share, in the previous first quarter. Results include a $16 million pretax severance charge and a $6 million higher compensation expense from the timing of bonus accruals. Excluding special items, net income rose 16 percent. Revenue rose nearly 4 percent to $746.1 million from $719.7 million. Outsourcing revenue grew 2 percent to $520.8 million and consulting revenue grew 10 percent to $214.9 million.

• Health Net Inc. (HNT): Reported higher premiums helped the insurer's fourth-quarter profit rise 11 percent from the year-ago period to beat Wall Street projections. Profit during the December quarter rose to $85 million, or 72 cents per share, from $76.7 million or 65 cents per share, a year earlier. Excluding charges for legal expenses, the company would have reported earnings of 91 cents per share for the quarter. Revenue increased 8.7 percent to $3.21 billion from $2.95 billion in the year-ago period.

• Heidrick & Struggles International Inc. (HSII): Reported reported lower fourth-quarter profit Tuesday as expenses rose sharply from a year ago. Earnings declined to $6.78 million, or 36 cents per share, from $6.93 million, or 36 cents per share, a year ago. There were about 18.8 million shares outstanding in the recent quarter versus around 19.4 million in the same period the year before. Revenue rose 32 percent to $138.9 million from $105.6 million a year ago, lifted by changes in foreign currency exchange rates, primarily in Europe.

• Health insurer Humana Inc. (HUM): Reported i ts fourth-quarter profit more than doubled on the strength of its burgeoning Medicare business, capping a record year in revenue, profit and medical membership. Buoyed by the momentum, the company raised its earnings projections for 2007. The company said revenue from its Medicare Advantage plans -- which offer comprehensive health care coverage -- nearly doubled in the quarter over the year-ago period. Its stand-alone Medicare prescription drug plans generated another $882 million in new fourth-quarter revenue.

• Kelly Services Inc. (KEYLA): Reported it earned a higher fourth-quarter profit on higher revenue and a hefty gain in the most recent quarter. The Troy, Mich.-based company said profit rose 84 percent to $24.4 million, or 67 cents per share, from $13.3 million, or 37 cents per share, a year earlier. Results include a $2.3 million gain on the sale of its staff leasing businss unit. Excluding the gain, profit rose 67 percent to $22.2 million. For the period ending Dec. 31, revenue rose around 4 percent to $1.44 billion from $1.38 billion a year ago.

• Kforce Inc. (KFRC): Reported results for the fourth quarter of 2006. Revenues for the quarter ended December 31, 2006 were an all time high of $243.1 million compared to $203.6 million for the quarter ended December 31, 2005 and $238.7 million for the quarter ended September 30, 2006. The Firm reported net income for the fourth quarter of 2006 of $9.3 million or 22 cents per share versus net income of $6.9 million or 17 cents per share for the fourth quarter of 2005, representing a year-over-year improvement of 34.9%. Net income for the quarter ending September 30, 2006 was $8.8 million or 21 cents per share. For the full year 2006, the Firm reported net income of $32.5 million or 77 cents per share versus net income of $22.3 million or 55 cents per share for the full year 2005.

• Korn/Ferry International (KFY): Reported its fiscal third-quarter profit slipped 11 percent from a year ago period boosted by a one-time gain, while sales climbed 27 percent on stronger fee revenue. Net income fell to $14.7 million, or 33 cents per share, from $16.6 million, or 37 cents per share, in the prior-year quarter. Excluding a one-time gain on an investment last year, earnings in the third quarter of 2006 totaled 27 cents per share. Revenue was $173.5 million in the three months ended Jan. 31, up 27 percent from $136.8 million a year ago, as fee revenue jumped.

• Kenexa (KNXA): Reported its fourth-quarter profit rose 71.5 percent as revenue doubled mainly on higher sales of subscriptions. The company earned $5.2 million, or 24 cents per share, compared with a profit of $3 million, or 17 cents per share, during the same period a year before. Revenue doubled to $36.4 million from $18.1 million. Adjusted income was $8 million, or 31 cents per share, versus $2.9 million, or 17 cents per share, in the year-ago period.

• Kronos Incorporated (KRON): Reported its first quarter profit fell nearly 9 percent due to charges for compensation and acquisitions. Quarterly profit fell to $5.7 million, or 18 cents per share, from $6.2 million, or 19 cents per share in the prior year period. This quarter's results included a stock-based compensation charge of 10 cents per share and an amortization cost of 8 cents per share. Excluding the charges, the company's profit was 36 cents per share.

• Labor Ready, Inc. (LRW): Reported its fourth-quarter earnings rose sharply, bolstered by one-time gains, and its net income rose to $21.6 million, or 42 cents per share, from $15.4 million, or 28 cents per share, in the year-ago period. The latest quarter included one-time gains totaling 8 cents per share. Excluding items, earnings rose 13 percent to $17.4 million, or 34 cents per share.

• Manpower Inc. (MAN): Reported a fourth-quarter profit that surged 85 percent on growth in overseas markets while the U.S. market was relatively flat. A first-quarter projection that fell short of analyst expectations sent the stock down $3.82, or 5.1 percent, to close at $71.56 on the New York Stock Exchange. Quarterly profit rose to $164.4 million, or $1.90 per share, in the three months ending Dec. 31, from $89.1 million, or $1.01 per share, in the same period the previous year.

• MetLife Inc. (MET): Reported record fourth quarter 2006 net income available to common shareholders of $3.8 billion, or $4.95 per diluted common share, compared with $677 million, or $0.88 per diluted common share, for the fourth quarter of 2005. MetLife also reported that net income available to common shareholders for 2006 was a record $6.2 billion, or $7.99 per diluted common share, compared with $4.7 billion, or $6.16 per diluted common share, for 2005.

• Magellan Health Services, Inc. (MGLN): Reported its fiscal fourth-quarter profit slumped 57 percent, compared with a year-ago period that saw a gain from an asset sale. Quarterly earnings dipped to $22.5 million, or 58 cents per share, versus $52.5 million, or $1.38 per share, during the same period in the prior year. The year-ago results benefited from a $34.7 million after-tax gain on the sale of certain assets to Aetna Inc. Revenue increased to $461.3 million, up 6 percent from $436.4 million in the 2005 quarter.

• Monster Worldwide, Inc. (MNST): Reported that a jump in revenue from its Monster Careers unit pushed its fourth-quarter profit up 8 percent. Net income rose to $39.1 million, or 30 cents per share, versus $36.1 million, or 28 cents per share, in the year-ago period. Revenue for the quarter grew to $298.6 million, up 33 percent from $223.8 million in the previous year. Sales at the company's Monster Careers unit surged 34 percent to $258.3 million, driven by international revenue growth of 63 percent and a 22 percent gain in North America. Revenue from internet advertising and fees rose 31 percent.

• Medical Staffing Network Holdings, Inc. (MRN): Reported its fourth-quarter loss widened on an impairment charge, but revenue edged higher. The Boca Raton, Fla.-based company reported a loss of $24.8 million, or 82 cents per share, compared with a year-ago loss of $292,000, or a penny per share. The latest period includes a pretax impairment charge of $28.6 million and a noncash valuation allowance of $7.4 million. Excluding items and an extra week in the latest quarter, earnings were $800,000, or 3 cents per share.

• Paychex Inc. (PAYX): Reported second-quarter net earnings of $132.7 million, or 35 cents a share, compared with $112.6 million, or 30 cents a share, in the same period last year, on the back of strong revenue from its human resource services segment. Revenue rose 14% to $455 million from $400 million. Paychex backed its 2007 net earnings growth outlook of 13% to 15%, on revenue growth of 12% to 14%.

• Robert Half International Inc. (RHI): Reported its fourth-quarter profit climbed 17 percent, topping analysts' expectations. Net income for the quarter was $75.4 million, or 45 cents per share, up from $64.6 million, or 37 cents per share, in the previous fourth quarter. Revenue for the quarter was $1.06 billion, up 20 percent from $884.8 million.

• Saba ( SABA): Reported it swung to a fiscal second-quarter loss as one-time charges offset an increase in revenue. For the quarter ended Nov. 30, Saba posted a loss of $1 million, or 4 cents per share, compared with a profit of $131,000, or 1 cent per share, for the same quarter in 2006. Excluding a fair value adjustment to deferred revenue, stock-option expenses and amortization charges, the company posted an adjusted profit of $2 million, or 7 cents per share, compared with an adjusted profit of $694,000, or 4 cents per share, for the 2006 quarter. The 2007 quarter's results were based on about 29.3 million outstanding shares, while the 2006 quarter's results were based on 18.1 outstanding shares. Revenue grew to $26.2 million from $16.2 million in the year-ago period.

• Spherion Corporation (SFN): Reported financial results for the fourth quarter ended December 31, 2006. Fourth quarter 2006 revenues were $500.6 million compared with $499.3 million in the fourth quarter of 2005. Earnings from continuing operations were $10.3 million or $0.18 per share in the fourth quarter of 2006, compared with $9.5 million or $0.16 per share in the fourth quarter of 2005. Net earnings, which include discontinued operations, for the fourth quarter of 2006 were $39.8 million or $0.70 per share, compared with $6.3 million or $0.10 per diluted share in the fourth quarter of 2005. Revenues for the year were $1.9 billion in 2006 compared with $2.0 billion in 2005.
  

• TALX Corporation (TALX): Reported its fiscal third-quarter profit rose 15 percent, aided by stronger revenue in each of its divisions. Quarterly earnings rose to $8.7 million, or 27 cents per share, from $7.6 million, or 22 cents per share, in the prior-year period. Revenue grew 24 percent to $65 million from $52.3 million a year earlier.

• Taleo Corp. (TLEO): Reported it swung to a profit in the fourth-quarter, helped by recurring application revenue. Quarterly profit attributable to Class A shareholders totaled $892,000, or 3 cents per share, from a loss of $77,000, or break even per share, during the prior-year period. Excluding one-time items, earnings were 7 cents per share. The number of weighted average Class A common shares rose to 25.8 million, from 18.2 million a year ago. Revenue rose 26 percent to $26.5 million, from $21 million in the same period a year ago.

• Ultimate Software (ULTI): Reported virtually flat fourth-quarter profit, as higher costs offset revenue growth. Net income was $1.8 million, or 7 cents per share. Excluding stock compensation costs and amortization of certain acquired assets, earnings were 14 cents per share versus 8 cents per share a year ago. Revenue rose 32 percent to $33 million from $25 million a year ago. Total operating costs climbed 29 percent to $16.7 million.

• UnumProvident Corp. (UNM): Reported fourth-quarter profit ahead of Wall Street's estimates as sales improved and claims eased. UnumProvident posted fourth-quarter profit with a host of unusual items. But analysts said by any measure, after excluding one-time items, earnings beat expectations. The results reflected higher sales and fewer people giving up on policies or discountinuing payments of premiums. UnumProvident also reaffirmed its 2007 guidance of a profit of $1.83 to $1.87 per share, ahead of Wall Street's view of $1.83 per share, according to Thomson Financial.

• Watson Wyatt Worldwide Inc. (WW): Reported its fiscal second-quarter profit rose 51 percent on an increase in revenue across all its business segments. For the quarter ended Dec. 31, the company earned $26 million, or 58 cents per share compared with $17.2 million, or 41 cents per share, for the same quarter in 2006. Revenue rose 16 percent to $366.4 million from $315.8 million in the year-ago period.

• WellPoint, Inc. (WLP): Reported a year of strong enrollment growth forecast to continue through 2007 lifted its fourth-quarter profits by 23 percent. The licensee of Blue Cross and Blue Shield plans in California, New York, Ohio and 11 other states said its earnings rose to $801.1 million, or $1.28 per share, during the three months ended Dec. 31. That compared with $652 million, or $1.04 per share, during the fourth quarter of 2005, when WellPoint Inc. closed on its purchase of WellChoice Inc.

• Workbrain Corporation (WB): Reported Canadian GAAP financial results for the fourth quarter and year ended December 31, 2006. All figures are in U.S. dollars. For the year ended December 31, 2006, Workbrain reported revenues of $96.5 million compared to $88.7 million last year, an increase of 8.8%. The $7.8 million increase in total revenue in 2006 was due to: a $3.5 million increase in maintenance revenue; a $3.2 million increase in other revenue, primarily revenue from the sale of hardware; a $0.7 million increase in professional services revenue; and a $0.4 million increase in license revenue. For the fourth quarter of 2006 revenue increased 4.4% to $24.9 million compared with $23.8 million for the fourth quarter of 2005.

• Workstream Inc. (WSTM): Reported its fiscal 2007 second quarter results for the period ended November 30, 2006. All figures are in U.S. dollars. Total revenue for the second quarter was $8.0 million compared to $7.2 million in the prior year's comparable period, an increase of $800,000 or 11%. Gross profit was $6.0 million or 75% of revenue for the quarter compared to $5.0 million or 69% of revenue for the comparable quarter a year ago.

Previous Quarter’s M&A Activity:

• Albany announced the acquisition of eWork Services, Inc., a specialist in contractor payrolling services and 1099 compliance. The acquisition bolsters Albany’s plans for expansion into the U.S. market. Albany provides Employer of Record services for contract workers and contingent workforce management solutions worldwide. Albany acts as a traditional employer—hiring the workers as their own W2 employees, processing payroll, providing benefits and HR support—for short-term projects or assignments with contract workers. Serving companies in more than 65 countries, Albany is an expert in international tax and labor law, including U.S. federal and state regulations.

• Arthur J. Gallagher & Co. announced the acquisition of Financial Profiles, Inc. located in Coral Springs, Florida. Terms of the transaction were not disclosed. Founded in 1981, Financial Profiles, Inc. is a specialty retail life insurance agency. They specialize in life policies, life settlement, premium financing and estate planning for their family-clients primarily in the Southeast. Karen Tharp, James Tharp and their associates will continue to operate in their current location under the direction of David Ziegler, Executive Vice President - Eastern Region of Gallagher Benefit Services, Inc., a subsidiary of Arthur J. Gallagher & Co.

• Arthur J. Gallagher & Co . announced the acquisition of Elite Benefits Insurance Marketing Services, Inc. of Irvine, California. Terms of the transaction were not disclosed. Founded in 1987, Elite Benefits Insurance Marketing Services, Inc. offers a wide-range of employee benefit consulting and brokerage services that include strategic analysis, plan design, legislative compliance, human resource services and employee communications support.

• Automatic Data Processing ADP announced the purchase of Intuit's outsourced payroll division, the 3rd largest payroll provider in the nation. With this recent acquisition, many question the impact it will have on the industry whether or not it signifies a growing trend. The shareholder shuffle does not end there. Reuters reported on February, 23rd 2007 that Ceridian Corporation, the nation's 4th largest payroll service provider, put themselves up for sale. The article explains that there is a battle brewing internally over whether or not they should sell the corporation in pieces or as whole.

• Comdata Corporation, a wholly owned subsidiary of Ceridian Corporation, announced it has acquired Inter-Tax, Inc. a leading provider of paperless fuel tax services. The acquisition creates North America’s most comprehensive suite of regulatory compliance solutions for the ground transportation industry.

• Employment Background Investigations, Inc. (EBI) announced the acquisition of Pittsburgh-based Comprehensive Information Services, Inc. (CIS) to form one of the largest and most inclusive background screening firms in the industry, offering background checks, drug testing and occupational healthcare solutions worldwide.

• Fortune Industries, Inc. (Amex: FFI) announced that it has closed its acquisition of Precision Employee Management , of Tucson, Arizona. Consideration for the purchase of Precision Employee Management approximates $2.2 million. Precision Employee Management is a full service Professional Employer Organization (PEO) servicing small to mid-size businesses in the Tucson, Arizona region. Precision Employee Management provides human resource services and management to approximately 2,000 worksite employees. Services include payroll and benefits administration, health and workmen's compensation insurance management, human resource management and consulting, training, testing, development and assessment services and insurance brokerage services.

• Equifax Inc. and TALX Corporation announced today that Equifax will acquire TALX in a stock and cash transaction valued at approximately $1.4 billion, including the assumption of debt. The acquisition is subject to certain regulatory approvals, approval by TALX shareholders and customary closing conditions. Equifax and TALX will hold a joint conference call for analysts and investors tomorrow at 8 a.m. EST, as described below.

• FlashPoint, a human resource and business consulting firm affiliated with Barnes & Thornburg LLP, recently acquired 26.2 Dynamics, a provider of custom training and development solutions. FlashPoint is one of central Indiana’s largest human resource consulting firms, and the acquisition will further bolster its client base in the area of training and development. FlashPoint has achieved revenue growth of 82% and 84% the last two years, and the number of employees has more than doubled in that timeframe. The firm’s major clients include Weaver Popcorn, Allied Solutions and Monarch Beverage.

• Gevity announced today the acquisition of HRAmerica, Inc. This acquisition provides Gevity with scalable technology to enhance its non-coemployment model, Gevity Edge Select(tm). HRAmerica is an HR outsourcing firm that offers fundamental employee administration solutions such as payroll processing and manager self-service to approximately 75 clients and 16,000 client employees.

• HR Solutions acquired VandyMeds, a medical and dental staffing service, the Evansville companies announced Tuesday. The combined services will continue to operate under their current names at their current locations with existing staff, said Vicki Hubiak, president of HR Solutions, 5401 Vogel Road.

• Hub International Limited announced that it has agreed to acquire substantially all of the assets of BNC Insurance Services, Inc., one of the largest Arizona-based insurance brokers.

• Kronos Software announced that it has agreed to be acquired by Hellman & Friedman Capital Partners under a deal worth $1.8 billion. In choosing to exit the public markets, Kronos joins a number of other tech companies that in recent months have been the target of private equity funds. Earlier this month, Affiliated Computer Services Inc.'s founder said he and investment fund Cerberus Capital Management plan to take the computer services company private with a $5.9 billion buyout.

• Mangrove Software , a leading provider in web-based Human Resource, Payroll and Self Service solutions, announces the acquisition of BenefitOne of America, a full-service Employee Benefits Administration company. Established in 1986, in Saint Petersburg, Florida, BenefitOne provides full service COBRA administration, HIPAA certification, flexible spending accounts, debit card administration, retiree billing, and leave of absence administration. Adding these services to Mangrove Software enhances its ability to capitalize on the growing Human Resources Outsourcing market and significantly expands its offerings to its existing customers.

• Oasis Outsourcing in Wichita said it has acquired Kelly Staff Leasing from Kelly Services Inc. Terms of the transaction were not disclosed. Kelly Staff Leasing is a professional employer organization with services that include payroll processing, benefits and risk management and other human resource services to small- and medium-size businesses.

• Oracle has agreed to buy Hyperion Solutions Corporation (Nasdaq: HYSL), a leading global provider of performance management software solutions, through a cash tender offer for $52.00 per share, or approximately $3.3 billion. "The acquisition of Hyperion makes Oracle the category leader in the high growth enterprise performance management market," said Oracle CEO Larry Ellison. "Hyperion's EPM software coupled with Oracle's Business Intelligence (BI) tools and analytic applications form an end-to-end performance management system that includes planning, budgeting, consolidation, operational analytics and compliance reporting."

• PayFlex Systems USA, Inc ., an administrator for employee benefit programs, announced the acquisition of FlexAmerica, Inc, which has emerged as a Consumer Directed Health Product leader with over 1,000 employers utilizing their Health Savings Account platform. FlexAmerica will operate as a subsidiary of PayFlex.

• StepStone, the leading European provider of e-recruitment software and services, today announces a binding agreement to acquire ExecuTRACK, a market-leading vendor of strategic talent management solutions.

• TimePlus Payroll acquired American Business Payroll of West Columbia, S.C.

• Towers Perrin announced the acquisition of ISR, a leading global employee research and consulting firm. The transaction combines ISR's employee research capabilities with Towers Perrin's existing consulting and research capabilities to provide clients with market-leading services in optimizing the value of their workforce and workforce investments.

• Towers Perrin acquired MGMC, Inc., a Connecticut-based firm that provides compensation surveys and advisory services to the financial services industry. Established in 2002, MGMC principally serves investment and commercial banks and securities firms with executive compensation advice and related benchmarking data. It has offices in London and Darien, Connecticut.

• UnicornHRO a provider of human resources, benefits and payroll solutions, has completed the acquisition of BMH, Inc., the Dallas-based developer of Open4R human resource information and payroll solutions, according to Frank P. Diassi, Chairman and CEO of UnicornHRO.

• Vurv (formerly Recruitmax ) acquired People Business Network (PBN), the leading provider of on-demand workforce optimization solutions that help Fortune 500 companies proactively monitor workforce transitions, analyze workforce metrics, and automate workforce deployment processes.

• Watson Wyatt Worldwide willacquire its alliance partner in the Netherlands, Watson Wyatt Brans & Co. A definitive agreement is expected to be signed in the first quarter of 2007. The two firms have maintained a close relationship for many years.

• Warning Management Services , Inc. announced that Warning Management Services Inc., Premier Staffing Inc., YESSnet, and Evolution Ventures LLC and their shareholders of record have signed a definitive agreement whereby Warning has acquired of all of the outstanding shares of the capital stock of companies and their operating units. Warning Management Services, Inc., founded in 1998, owns Employment Systems, Inc. (www.employmentsystems.com), which provides staffing services, employer business solutions and business processing services to municipalities and small and medium-size businesses throughout Southern California.

• WebCE® Acquires APlusOnlineCE.com. DALLAS--(BUSINESS WIRE)--WebCE, the nationwide provider of continuing education services for financial services professionals, announced it has acquired APlusOnlineCE.com ("APlusOnline"), a Newport News-based continuing education provider. The acquisition will strengthen WebCE’s curriculum for Certified Financial Planners® and gives APlusOnline customers access to WebCE’s 150 insurance CE courses. www.WebCE.com