IBM to Buy HR Software Provider for $1.3 Billion
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.