International Business Machines Corp. (IBM) agreed to buy Kenexa Corp. (KNXA) for about $1.3 billion in cash, adding social-networking services that help companies handle human resources and recruiting.
IBM will pay $46 a share for the Wayne, Pennsylvania-based company, a 42 percent premium over the stock’s closing price on Aug. 24. The deal is expected to be completed in the fourth quarter, IBM said today in a statement.
(via IBM to Buy Social-Business Company Kenexa for $1.3 Billion – Businessweek)
