announced Thursday it will acquire cloud-based performance management vendor Rypple in a bid to enter the human resources software market.

The deal is expected to close before April 30 of next year. Financial terms were not disclosed.

The move comes shortly after SAP made a major market splash by announcing its intentions to buy cloud HR software vendor SuccessFactors, the second-largest pure SaaS (software as a service) company after

Exhibiting no small amount of chutzpah, said it will relaunch Rypple's application as Successforce, a new business unit led by John Wookey, who recently left SAP after serving as a top executive in its SaaS strategy. had been quiet about Wookey's planned role until now.

" and Rypple share a vision for extending the social enterprise to transform the way we work," CEO Marc Benioff said in a statement. "The next generation of HCM is not just about a cloud delivery model, it's about a fundamentally better way to recruit, manage and empower employees in a social world."

Rypple will provide the basis for to "revolutionize" the HCM market, Wookey said in another statement.'s announcement talked up the social networking pedigree of Rypple's software, which is used by the most famous social network of all, Facebook, as an employee performance management system.

(More to follow).

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is [email protected]