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IBM To Acquire Kenexa For $1.3B

By TechTaffy Desk

[Techtaffy Newsdesk]

IBM and Kenexa, a provider of recruiting and talent management solutions, have entered into a definitive agreement for IBM to acquire Kenexa, a publicly held company headquartered in Wayne, Pa., in a cash transaction at a price of $46 per share, or at a net price of approximately $1.3 billion. IBM expects the transaction to close in the fourth quarter of 2012, subject to Kenexa shareholder and regulatory approvals and the satisfaction of other customary closing conditions.

Alistair Rennie  (General manager, Social business, IBM): Every company, across every business operation, is looking to tap into the power of social networking to transform the way they work, collaborate and out innovate their competitors.

More than 60 per cent of Fortune 100 companies have licensed IBM’s solutions for social business. The Kenexa acquisition will complement its social business and HR business services, says the company.

Kenexa has operations in 21 countries worldwide, and approximately 2,800 employees.  IBM plans to continue to support Kenexa clients and enhance Kenexa technologies.

[Image Courtesy: Kenexa]

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