Taleo Corporation Announces Release of Shares From Lock-Up
SAN FRANCISCO — March 23, 2006 – Taleo Corporation (Nasdaq: TLEO), a leading provider of talent management solutions, announced today that the lock-up agreements entered into in conjunction with the initial public offering of Taleo common stock have been terminated early. Termination of such lock-up agreements is effective today, March 23, 2006. The lock-up agreements cover an aggregate of approximately 14.5 million shares of Taleo common stock. Upon release of the lock-up, these shares will be available for sale subject to any resale restrictions of the federal securities laws, including, in some instances, the limitations of Rule 144 or 701 under the Securities Act of 1933, as amended. Taleo completed its initial public offering of 6,700,000 shares of common stock on October 4, 2005.
About Taleo Corporation
Taleo (NASDAQ: TLEO) delivers on demand talent management solutions that enable organizations of all sizes to assess, acquire, develop and align their workforce for improved business performance. Taleo’s customers use its suite of solutions to improve their talent management processes to reduce the time and costs associated with these processes and to enhance the quality, productivity and effectiveness of their workforces. Taleo currently has more than 350 corporate customers with approximately 500,000 registered users who use our services to fill positions in almost 100 countries. For more information visit www.taleo.com.
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Krista Canfield
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