Armonk, N.Y. — Aug. 27
IBM and Kenexa Corp. 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 roughly $1.3 billion.
The acquisition bolsters IBM’s ability to help clients embrace social business capabilities while gaining insights from the streams of information generated from social networks every day.
Kenexa, a provider of recruiting and talent management services, brings a combination of cloud-based technology and consulting services that integrates people and processes, providing serivces to engage a smarter, more effective workforce across their most critical business functions.
Kenexa complements IBM’s strategy of bringing relevant data and expertise into the hands of business leaders within every functional department, from sales and marketing to product development and human resources.
Kenexa supports more than 8,900 customers across a variety of industries, including financial services, pharmaceuticals, retail and consumer, including more than half of the Fortune 500.
With operations in 21 countries, Kenexa has approximately 2,800 employees. IBM plans to continue to support Kenexa clients and enhance Kenexa technologies while allowing these organizations to take advantage of the broader IBM portfolio.
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.