Tech major IBM (NYSE: IBM) today announced the closing of its acquisition of Kenexa.
The move is expected to strengthen IBM initiatives to help its clients embrace social business capabilities while gaining actionable insights from the enormous streams of information generated from social networks every day.
The net purchase price is approximately $1.3 billion.
Kenexa, a leading provider of recruiting and talent management solutions, brings a combination of Cloud-based technology and consulting services that integrates both people and processes, providing solutions to engage a smarter, more effective workforce across their most critical business functions, says IBM.
The adoption of social business technology is further accelerating the growth of big data and the need for analytics in the enterprise, believes IBM.
A recent global IBM study revealed that 57 percent of surveyed CEOs identified becoming a social business as a top priority and more than 73 percent are making significant investments to capture and draw insights from available data.
The survey also reveals that 70 percent of CEOs cite human capital as the single biggest contributor to sustained economic value. The combined strengths of IBM and Kenexa provide organizations with unique capabilities that allow them to increase workforce efficiencies and gain insight from their business information, says IBM.
With the closing of this acquisition approximately 2,800 Kenexa employees in 21 countries join IBM. IBM will continue to support Kenexa clients and enhance Kenexa technologies while allowing these organizations to take advantage of the broader IBM portfolio. It was announced today, Dec. 4.