IBM (IBM) to Acquire Kenexa (KNXA) for $46/Share

August 27, 2012 9:03 AM EDT
IBM (NYSE: IBM) and Kenexa Corporation (NYSE: KNXA) today announced they 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 approximately $1.3 billion.

The Kenexa acquisition will complement IBM 's social business and HR business services leadership. More than 60 percent of Fortune 100 companies have licensed IBM 's solutions for social business. Through its combination of social software, analytics, content management, and deep industry expertise, IBM is uniquely positioned to help organizations capture information, create insights and generate interactions that translate into real business value.

With operations in 21 countries worldwide, Kenexa has approximately 2,800 employees. Consistent with its strategy, 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.

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