Tags: ibm | social | kenexa | acquire

IBM to Buy Social-Business Company Kenexa for $1.3 Billion

Monday, 27 August 2012 09:43 AM

International Business Machines Corp. will spend about $1.3 billion for Kenexa Inc., a maker of Web-based human-resources and recruiting services, part of its effort to reach $16 billion in annual analytics revenue.

IBM agreed to pay $46 a share in cash for the Wayne, Pennsylvania-based company, according to a statement Monday. The deal is expected to be completed in the fourth quarter.

Kenexa uses a social-networking approach to HR, working with more than 8,900 customers in financial services, pharmaceuticals, retail and other industries. It has about 2,800 employees in 21 countries.

“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,” Alistair Rennie, IBM’s general manager of social business, said in the statement. “IBM is uniquely positioned to help clients generate real returns from their social business investments.”

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Monday, 27 August 2012 09:43 AM
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