IBM to acquire HR software maker Kenexa Corp for $1.3 billion
27 Aug 2012
International Business Machines (IBM) today agreed to acquire human resource management software maker Kenexa Corp, for about $1.3 billion.
IBM will pay $46 per share, representing a premium of 42.5 per cent to Kenexa's Friday closing price.
Founded in 1987 by Nooruddin Karsan, Kenexa provides employment and retention solutions to assist organisations in hiring and keeping workers using a social-networking approach to human resource.
The Wayne, Pennsylvania-based company has grown globally through acquisitions including companies like Gantz Wiley Research, Knowledge Workers Inc and Salary.com
It has more than 8,900 customers in financial services, pharmaceuticals, retail and other industries about 2,800 employees and operates in 21 countries.
It also operates a state-of-the-art campus in Vizag in India, which serves as a key development center for its technological innovation.
