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Kenexa

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NEWS
August 28, 2012
Kenexa Corp., the Wayne-based human-resource systems software and research company, will be acquired by IBM for $46 per share or $1.3 billion in cash, Kenexa officials announced. Kenexa's client base includes Starbucks, CVS, Boeing, Verizon and the U.S. Navy. One asset Kenexa brings to the deal is its massive surveying capacity, with international data on employee attitudes. IBM CEO Ginni Rometty has stated that "organizations can think of big data as the next, great natural resource.
NEWS
September 1, 2010
Kenexa Corp., the Wayne-based human resource software and research company, will buy Salary.com, of Needham, Mass, for 47 cents a share, or $80 million in cash. Kenexa expects to close on the deal in the fourth quarter. Salary.com provides compensation information and management, making it a good fit for Kenexa, chief executive Rudy Karsan said.    - Jane M. Von Bergen
NEWS
October 1, 2010
Kenexa Corp., a human resources software and research company in Wayne, said today that it completed its acquisition of Salary.com Inc. Kenexa announced last month it would acquire the Needham, Mass., firm for $80 million in cash. Salaray.com, which provides on-demand compensation and talent management software, is now a wholly-owned subsidiary of Kenexa, the company said.    - Reid Kanaley
BUSINESS
October 14, 2006 | By Benjamin Y. Lowe INQUIRER STAFF WRITER
Investors drove up shares of Kenexa Corp., of Wayne, yesterday, three days after a Newtown-based competitor was acquired. Shares of Kenexa rose $2.19, or 7.4 percent, to $31.68 yesterday on the Nasdaq Global Market. Volume was more than three times the shares' daily average of 160,000 this year. The privately held competitor, VirtualEdge Corp., was bought Tuesday by Automatic Data Processing Inc., a payroll-processing firm from Roseland, N.J. Financial terms were not disclosed.
NEWS
May 16, 2011
Kenexa, a Wayne-based provider of business solutions for human resources, said it intends to offer for sale up to three million shares of its common stock in an underwritten registered public offering. Underwriters will have the right to purchase up to 450,000 additional shares to cover any over-allotments. Proceeds will be used, in part, for potential acquisitions or investments in strategic businesses or technologies. The offer price of the shares to be sold has not been determined.
BUSINESS
August 29, 2012 | By Jane M. Von Bergen, Inquirer Staff Writer
Following an industry trend, tech giant IBM announced that it would acquire Kenexa Corp., the Wayne-based human-resources software company, for $1.3 billion or $46 a share. On Friday, Kenexa shares closed at $32.39. IBM's willingness to pay a premium for the shares shows its eagerness to tap into the human-resource and talent-management software segment, one of the fastest growing segments of software used by businesses for their operations. This year, Oracle and SAP also bought human-resource software companies, both of them Kenexa competitors.
BUSINESS
December 28, 2009 | By Jane M. Von Bergen INQUIRER STAFF WRITER
Because Kenexa Corp. loves measurement, especially when it comes to quantifying the unquantifiable, it even has a formula for assessing whether its clients will renew their contracts. Two of its elements: Does the Kenexa sales representative know the names of his client's spouse and children? A yes equals 0.5 points. And: In the last year, has that Kenexa rep spent four consecutive hours with his main contact at the client company? All-day conferences don't count. It has to be in a group of six or fewer.
BUSINESS
December 28, 2015
First, Nooruddin "Rudy" Karsan, 58, sold Kenexa, the human resources software company he co-founded, to IBM in 2012 for $1.3 billion, taking home far more than the $50 million originally reported. Then, he sold his Ferrari, and several cars - and he didn't stop there. "One of the things I did, post-sale, in the last 18 months is I took all material things out of my life," he said. "I had a Ferrari," Karsan said. "I got rid of that. We moved from a 9,000-square- foot home to a 2,000-square-foot condo right here in the city.
NEWS
February 24, 2011 | By Martha Woodall and William K. Marimow, Inquirer Staff Writers
Faced with a massive budget shortfall, the Philadelphia School District has scrapped plans for a $1.1 million system to track job applicants that would have cost more than twice as much as two other options and taken three times longer to deploy. Superintendent Arlene C. Ackerman scuttled the contract with Kenexa Corp. of Wayne one month after The Inquirer reported that the district overrode staff recommendations to select cheaper alternatives, according to documents The Inquirer obtained from the district in response to a right-to-know request.
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BUSINESS
December 28, 2015
First, Nooruddin "Rudy" Karsan, 58, sold Kenexa, the human resources software company he co-founded, to IBM in 2012 for $1.3 billion, taking home far more than the $50 million originally reported. Then, he sold his Ferrari, and several cars - and he didn't stop there. "One of the things I did, post-sale, in the last 18 months is I took all material things out of my life," he said. "I had a Ferrari," Karsan said. "I got rid of that. We moved from a 9,000-square- foot home to a 2,000-square-foot condo right here in the city.
BUSINESS
December 27, 2015
Everyone calls him: Rudy. Home: Center City, born in Kenya. Family: Wife; Shirin; daughters, Safiya, Nyla Koncurat. Diploma: University of Waterloo, actuarial science. Resume: Co-founded Kenexa, in Wayne, a 2,800-employee, human resources software and research firm. Continuing education: Playing poker, $5,000 stake. Why: "People show the strength of their hand through their body language. I started picking up on tells because I can use them in business in tough negotiations.
BUSINESS
December 5, 2012
In the Region PSE&G pegs Sandy costs at $300M Public Service Electric & Gas estimated the cost of restoring power after Hurricane Sandy and a subsequent Nor'easter at $250 million to $300 million. The vast majority of that will almost certainly be borne by the utility's customers in the form of higher rates in future years. The Newark, N.J.-based company said it expect to recover "at least 85 percent" of its incurred costs. - AP EEOC finds basis for Wet Seal claim The U.S. Equal Employment Opportunity Commission has found a basis for a racial discrimination claim by a former worker at Wet Seal's King of Prussia store.
BUSINESS
September 3, 2012 | By Jane M. Von Bergen, Inquirer Staff Writer
There are business deals involving bankers, brokers and lawyers, and then there's saving the world. Maybe IBM's $1.3 billion pending acquisition of Kenexa Corp., the Wayne-based human-resources software and research company, is a little bit of both. Or at least that's how Kenexa's chief executive, Nooruddin "Rudy" Karsan, explains the reasoning behind the decision to sell the company he cofounded 25 years ago. "To have a megaphone to show the importance of work to individual jobholders is monumental," said Karsan, 54, of Newtown Square.
BUSINESS
September 2, 2012
"I'd rank [Focus] superior to the Corolla in pretty much most ways. " - IHS Global Insight analyst Aaron Bragman regarding the Ford Focus, which could best Toyota Corolla as the world's top-selling auto. "President Obama promised to slow the rise of the oceans and heal the planet. My promise is to help you and your family. " - Mitt Romney in his speech to the Republican National Convention. "We have seen no net improvement in the unemployment rate since January. Unless the economy begins to grow more quickly than it has recently, the unemployment rate is likely to remain far above levels consistent with maximum employment for some time.
BUSINESS
August 29, 2012 | By Jane M. Von Bergen, Inquirer Staff Writer
Following an industry trend, tech giant IBM announced that it would acquire Kenexa Corp., the Wayne-based human-resources software company, for $1.3 billion or $46 a share. On Friday, Kenexa shares closed at $32.39. IBM's willingness to pay a premium for the shares shows its eagerness to tap into the human-resource and talent-management software segment, one of the fastest growing segments of software used by businesses for their operations. This year, Oracle and SAP also bought human-resource software companies, both of them Kenexa competitors.
NEWS
August 28, 2012
Kenexa Corp., the Wayne-based human-resource systems software and research company, will be acquired by IBM for $46 per share or $1.3 billion in cash, Kenexa officials announced. Kenexa's client base includes Starbucks, CVS, Boeing, Verizon and the U.S. Navy. One asset Kenexa brings to the deal is its massive surveying capacity, with international data on employee attitudes. IBM CEO Ginni Rometty has stated that "organizations can think of big data as the next, great natural resource.
NEWS
October 31, 2011
Kenexa Corp., the Wayne staffing company, said it will transfer its stock listing, effective Nov. 9, to the New York Stock Exchange. The shares are currently listed on the Nasdaq market. The company's ticker symbol will remain KNXA. Kenexa representatives will ring the NYSE opening bell on Nov. 9. Shares were down 68 cents, or 2.86 percent, to $23.07 in afternoon trading.    - Reid Kanaley
NEWS
May 16, 2011
Kenexa, a Wayne-based provider of business solutions for human resources, said it intends to offer for sale up to three million shares of its common stock in an underwritten registered public offering. Underwriters will have the right to purchase up to 450,000 additional shares to cover any over-allotments. Proceeds will be used, in part, for potential acquisitions or investments in strategic businesses or technologies. The offer price of the shares to be sold has not been determined.
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