IBM Corp. announced Aug. 27 it had entered into a definitive agreement to acquire Kenexa Corp., a human resources software provider, for $1.3 billion in cash.
Kenexa, which works with more than 8,900 clients across a variety of industries, including financial services, pharmaceuticals, retail and consumer areas, markets cloud-based technology and consulting services aimed at facilitating better internal communications and more fluid sharing of information.
Big Blue will acquire Kenexa, based in Wayne, Pa., in a cash transaction valued at $46 per share.
Armonk-based IBM said Kenexa”™s front-office process solutions will allow it to offer strategic consulting, a social technology platform and expertise on a global scale to help clients enable a smarter workforce and gain a competitive advantage.
By creating a smarter workforce, IBM said, clients and their employees will be able to resolve problems before they arise to improve customer service, drive innovation and increase sales.
Kenexa currently has about 2,800 employees and operations in 21 countries. IBM said the transaction is expected to close in the fourth quarter of this year, subject to Kenexa shareholder and regulatory approvals.
