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IBM to Buy HR Software Provider for $1.3 Billion

Published on August 27, 2012
by Saabira Chaudhuri

International Business Machines Corp. agreed to acquire Kenexa Corp. for $1.3 billion in cash as IBM bolsters its offerings to clients looking to use data from social media to enhance their recruitment processes.

Kenexa’s shares jumped 41% to $45.70 in recent premarket trading, just below IBM’s per-share offer price of $46, which represents a 42% premium over Friday’s closing price.

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