Halogen Software has been acquired by Saba Software. Halogen, one of Ottawa’s largest publicly traded companies, was bought for $293 million by the California talent management software firm.
Halogen, which sells HR software-as-a-service solutions, is recently profitable and saw a 9% year-over-year revenue boost last quarter. The Canadian company was founded in 1996 under a different name and went public in 2013.
“Together, we have the opportunity to scale faster and lead the way in performance, learning and engagement, and expand our global impact,” Halogen chairman Michael Slaunwhite said in a statement of the transaction.
While reports of a deal were rumored for months, the move surprised some; in 2013, the company’s former CEO expressed ambitions to build a billion-dollar company in Canada and would aggressively acquire other firms.