Friday, May 24, 2024

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

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Bloomberg BusinessWeek: IBM will pay $46 a share, about $1.3 billion total, for Pennsylvania-based Kenexa Corp. in an all-cash deal. Kenexa sells human resources and recruiting software with built-in social networking capabilities. “This ties very directly into the investments we’ve made in helping clients create enterprise social networks and how we apply analytics,” said IBM’s Alistair Rennie. “This idea of how you leverage talent and bring it forward has become a significant operational issue.”

In the past five years, IBM has spent $16 billion buying 30 companies to bolster its analytics business.

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