Oracle is to acquire social media sourcing software specialist SelectMinds, as the IT giant moves to expand it's talent management offering.

The sourcing software specialist allows companies to advertise jobs on social networks such as Facebook and LinkedIn.

Thomas Kurian, executive vice president of product development at Oracle, said: “Recruiting candidates through employee referrals is widely acknowledged as the most effective method to find talent through trusted contacts."

The acquisition comes as Oracle competes against rivals SAP, with their purchase of SuccessFactors, in the recruitment market.