SABA
Saba Software, Inc.OTCPK - Limited
SABA is defunct.
  • Feb. 10, 2015, 4:40 PM
    • Vector Capital is acquiring OTCPK:SABA Software for $9/share in cash. The price represents just a 2% premium to Saba's Tuesday close, but a 33% premium to where shares traded before Saba disclosed on Jan. 20 it had received M&A interest. (PR)
    • The deal is expected to close "in the coming months." Saba is up 0.6% AH to $8.85.
    | Feb. 10, 2015, 4:40 PM
  • Jan. 20, 2015, 11:53 AM
    • Following talks with "a number of strategic and financial parties," OTCPK:SABA Software "has received multiple non-binding indications of interest regarding a potential acquisition of the Company."
    • The company "anticipates being in a position to enter into a definitive agreement prior to February 15, 2015 if the Board of Directors determines to pursue a sale transaction." Morgan Stanley continues to advise.
    • Saba first disclosed its strategic review on Dec. 16, in tandem with a less-than-cheerful business/accounting review update.
    | Jan. 20, 2015, 11:53 AM
  • Dec. 24, 2014, 8:14 AM
    • Saba Software (OTCPK:SABA) is upgraded by B. Riley to a Buy rating.
    • The investment firm has a lush $12.75 price target on the tech name.
    | Dec. 24, 2014, 8:14 AM
  • Dec. 16, 2014, 10:23 AM
    • Saba's (OTCPK:SABA -22.9%) ongoing accounting restatement work isn't expected to conclude before the the first quarter of FY16 (starts June 1, 2015). If the company doesn't filed its delayed SEC reports by Feb. 15, its shares could be delisted.
    • Saba adds it "has been evaluating strategic alternatives, including a sale of the Company, and has commenced preliminary discussions with potential acquirers." Morgan Stanley has been hired to advise.
    • The cloud talent management software vendor reports its new cloud bookings rose 9% Y/Y in FQ2 (ended in November), and that 42 customers were added. Cash/equivalents totaled $21.6M at quarter's end, and total debt $91M.
    | Dec. 16, 2014, 10:23 AM | 3 Comments
  • Apr. 5, 2013, 9:15 AM

    Saba Software (SABA) says the pending restatement of prior financial results has not been completed by the deadline for continued listing on the NASDAQ Global Select Market. The restatements stem from a revenue recognition issue and the company says it will complete the process as soon "as practicable." Shares -10% premarket.

    | Apr. 5, 2013, 9:15 AM
  • Mar. 1, 2013, 1:46 PM
    Saba Software (SABA -1.8%) CEO Bobby Yazdani is stepping down, effective today. COO Shawn Farschi will serve as interim CEO until a full-time replacement is found. Yazdani's departure, supported by Saba's board, comes just two months after CFO Elaine Kitagawa was replaced, and follows a year in which the cloud HR software firm was forced to delay filings due to revenue restatements.
    | Mar. 1, 2013, 1:46 PM
  • Jan. 4, 2013, 5:54 PM

    Global SaaS/cloud software sales will rise a solid 25% this year to $59B, and another 25% in 2014 to $74B, predicts Forrester. The research firm also sees corporate adoption of Apple (AAPL) hardware continuing to grow: it expects Mac/iPad sales to businesses growing to $18B in 2013 from $15B in $2012. Forrester's original forecast for 2012 corporate Mac/iPad sales proved aggressive. Needham (citing Gartner data) has estimated Mac sales to U.S. businesses rose 49% Y/Y in Q3.

    | Jan. 4, 2013, 5:54 PM | 2 Comments
  • Dec. 4, 2012, 4:50 PM

    Saba Software (SABA) says it has named Michael Shahbazian its interim CFO. Though her name curiously doesn't appear in the PR, it looks as if Shahbazian has replaced Elaine Kitagawa, who was appointed CFO earlier this year. Saba has been forced to delay 10-Q and 10-K filings this year due to revenue restatements driven by accounting reviews.

    | Dec. 4, 2012, 4:50 PM
  • Oct. 12, 2012, 10:33 AM
    Ultimate Software (ULTI +3.5%) and Saba Software (SABA +2.3%), both the subjects of occasional M&A speculation, are moving higher following cloud HR peer Workday's memorable IPO. Ultimate is also benefiting from ThinkEquity's decision to start coverage with a Buy and $116 target.
    | Oct. 12, 2012, 10:33 AM
  • Oct. 11, 2012, 11:55 PM

    Workday (WDAY) prices its IPO at $28, above a prior range of $24-$26. That gives the fast-growing cloud ERP/HR software firm, which raised $637M by selling 22.75M shares, a valuation of $4.49B, or about 20x sales. Between the hype surrounding this offering and the way other enterprise tech IPOs have fared lately (I, II, III), there could still be a healthy pop when shares begin trading on Friday. Some cloud software firms that might move in response: N, CSOD, SABA, ULTI. (S-1) (more)

    | Oct. 11, 2012, 11:55 PM
  • Oct. 5, 2012, 1:59 PM

    Saba Software (SABA -6.9%) dives after disclosing it will delay filing its FY12 10-K, and expects to delay filings its FQ1 (August quarter) 10-Q. Saba, which had already announced a revenue restatement following an accounting review, also says it has expanded the scope of its restatement to cover the impact of the under-recording of billable consulting hours. (previous)

    | Oct. 5, 2012, 1:59 PM
  • Sep. 17, 2012, 4:37 PM

    Oracle (ORCL) is acquiring SelectMinds, a developer of cloud apps for recruiting talent via referrals and social connections, and handling relationship with ex-employees. SelectMinds' software joins an arsenal of Oracle cloud HR solutions that includes its Fusion apps and Taleo. Remaining independent cloud talent management vendors include CSOD, SABA, and ULTI. (IBM-Kenexa) (SAP-SuccessFactors)

    | Sep. 17, 2012, 4:37 PM
  • Aug. 31, 2012, 5:39 PM

    Saba Software (SABA +17.8%) closed with a huge gain on heavy volume. M&A speculation fueled by IBM's Monday deal to buy fellow cloud HR software firm Kenexa is almost certainly the reason. On Tuesday, B. Riley argued Saba could be sold at a hefty premium to a larger cloud player such as Salesforce.com or Workday, or an IT giant such as H-P or Dell. Peers Cornerstone OnDemand (CSOD +2%) and Ultimate Software (ULTI +1.1%) had more modest gains. (previous)

    | Aug. 31, 2012, 5:39 PM
  • Aug. 29, 2012, 7:08 PM

    Oracle (ORCL) accidentally leaks a presentation that details plans for its new Fusion cloud HR solutions, as well as for recently-acquired Taleo. Taleo's pricing, called "amazingly affordable" by BI, will range from $1-$15/user/month, depending on features. Oracle also says it wants to grow Taleo by expanding internationally and targeting staffing service firms, and differentiate itself by offering an end-to-end HR solution. The leak comes two days after IBM announced it's buying Taleo rival Kenexa.

    | Aug. 29, 2012, 7:08 PM | 1 Comment
  • Aug. 27, 2012, 10:14 AM

    Not surprisingly, Cornerstone OnDemand (CSOD +7.5%) is rallying after IBM-Kenexa fuels new hopes that the company will be bought out by a larger enterprise software name. Also trading higher are peers Saba Software (SABA +10.6%) and Ultimate Software (ULTI +2.5%).

    | Aug. 27, 2012, 10:14 AM | 1 Comment
  • Mar. 29, 2012, 2:52 PM
    Saba Software (SABA -18%) shares are crushed on the delay of its FQ3 results, but B. Riley is not overly concerned, doubting the delay is anything more than determining when acountants recognize some transactions. "What matters most is that these deals appear to have closed," not when they will be reported, the firm argues, while still cutting shares to Neutral after a 29% gain YTD.
    | Mar. 29, 2012, 2:52 PM