Nomura Securities on Americas Technology: IBM Jumps Into Talent Management
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Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
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Nomura Securities on Americas Technology: IBM Jumps Into Talent Management
Analyst, Rick Sherlund, said, "IBM (NYSE: IBM) has announced a definitive agreement to acquire Kenexa (Nasdaq: KNXA), a provider of recruiting and talent management software and extensive consulting services around the recruiting function. We expect the main focus to be around Kenexa’s consulting services and assisting IBM customers with strategic consulting services and to a lesser degree software directed at workforce related automation. The deal is expected to close in the fourth quarter of 2012. No change in Buy-ratings on Oracle (Nasdaq: ORCL), SAP (NYSE: SAP), and Cornerstone OnDemand (Nasdaq: CSOD)."
"Kenexa positions IBM over the line into the applications space, although the orientation is clearly more on the consulting side. The acquisition positions IBM in the talent management segment of the HR market, primarily against Taleo, recently acquired by Oracle, and to a lesser degree against SuccessFactors (Nasdaq: SFSF), recently acquired by SAP, and to a small degree Cornerstone OnDemand, among others. Given the focus of Kenexa on consulting services we do not view competition in the SaaS space to be game changing for Kenexa’s competitors in the SaaS market, but we view the acquisition as strategically significant in advancing IBM one step closer to the applications and SaaS market."
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Analyst, Rick Sherlund, said, "IBM (NYSE: IBM) has announced a definitive agreement to acquire Kenexa (Nasdaq: KNXA), a provider of recruiting and talent management software and extensive consulting services around the recruiting function. We expect the main focus to be around Kenexa’s consulting services and assisting IBM customers with strategic consulting services and to a lesser degree software directed at workforce related automation. The deal is expected to close in the fourth quarter of 2012. No change in Buy-ratings on Oracle (Nasdaq: ORCL), SAP (NYSE: SAP), and Cornerstone OnDemand (Nasdaq: CSOD)."
"Kenexa positions IBM over the line into the applications space, although the orientation is clearly more on the consulting side. The acquisition positions IBM in the talent management segment of the HR market, primarily against Taleo, recently acquired by Oracle, and to a lesser degree against SuccessFactors (Nasdaq: SFSF), recently acquired by SAP, and to a small degree Cornerstone OnDemand, among others. Given the focus of Kenexa on consulting services we do not view competition in the SaaS space to be game changing for Kenexa’s competitors in the SaaS market, but we view the acquisition as strategically significant in advancing IBM one step closer to the applications and SaaS market."
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