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.
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
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
October 14, 2006 |
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.
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.
August 29, 2012 |
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.
December 28, 2009 |
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.
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.
February 24, 2011 |
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.