IBM buys HR management company Kenexa for $1.3 billion
August 28 , 2012
IBM has acquired human resources management company Kenexa for $1.3 billion ($A1.25 billion).
The move is set to increase competition with Oracle and SAP who recently bought into the human resources software sector.
Industry analysts say the deal highlights the importance that traditional technology giants place on web-based software makers, whose products are less likely to be affected by the economic downturn as there are no upfront costs for program licenses, hardware or installation.
Kenexa boasts more than 8,900 customers across financial services, pharmaceuticals, retail and consumer industries,
Germany's SAP bought Kenexa's competitor SuccessFactors for $3.4 billion in cash last December.
Meanwhile, Oracle bought rival Taleo for $1.9 billion in February.