interbiznet: The Recruiting News

The Recruiting News

Please Click On Our Sponsors

Please Click On Our Sponsors

Recruiting News for the Human Resource Professional

Please Click On Our Sponsors

Please Click On Our Sponsors

Please Click On Our Sponsors

Please Click On Our Sponsors




Click On Our Sponsors

Click On Our Sponsors




Click On Our Sponsors  

The Electronic Recruiting News is a Free Daily Newsletter For Recruiters, HR Managers, Advertising Agencies and Clasified Advertising Operations

ERN | Bugler | The Blogs | Archives |Careers | Job Hunt |

Kenexa Announces Agreement to Acquire

(September 2, 2010)

Kenexa Announces Agreement to Acquire
Reiterates financial guidance for the third quarter 2010

Kenexa Corporation (Nasdaq: KNXA) and, Inc. (Nasdaq: SLRY) announced that they have entered into an agreement for Kenexa's acquisition of in an all cash tender offer and merger for $4.07 per share, or approximately $80 million.

Kenexa, a global provider of business solutions for human resources, expects to complete the cash tender offer and close the transaction during the fourth quarter of 2010. The completion of the transaction is subject to a majority of the outstanding shares being tendered, as well as satisfactory completion of other customary closing conditions, including certain regulatory approvals.

Kenexa expects to finance the deal through a combination of its cash balances and borrowings against its credit facility, which was recently put in place. The agreement has been unanimously approved by the board of directors of both companies, and's board intends to recommend that the stockholders tender their shares in the offer.

Kenexa's Chief Executive Officer, Rudy Karsan, stated, "We are very excited to announce the acquisition of, which provides Kenexa with significant domain expertise and a strong leadership position in the area of on-demand compensation management solutions.'s value proposition spans both software and proprietary content, similar to Kenexa, and their compensation management solutions are highly synergistic with our broad suite of talent acquisition and retention solutions. We believe Kenexa is increasingly being recognized in the market place as having the broadest and deepest suite of talent management solutions, and the addition of's solutions and customer base will further strengthen our competitive position."

Karsan added, "We believe there is a tremendous opportunity to take's best-in-class compensation management solutions to Kenexa's customer base, which includes some of the largest corporations in the world. In addition, has several thousand customers that provide a fertile opportunity for Kenexa to deliver our suite of software, services and content. We believe's acquisition by Kenexa is a major positive for both of our respective companies, employees, partners, customers and prospects." provides on-demand compensation software that helps businesses and individuals manage pay and performance. The company is the industry leader in market pricing and compensation analysis software that helps customers benchmark, compensate and reward its employees.'s compensation solutions were designed by Certified Compensation Professionals (CCP®) and enable corporations to analyze pay competitiveness, simplify cumbersome survey participation and automate market pricing all in a single, web-based solution. also provides companies with access to a wealth of employer reported compensation data that spans thousands of jobs.

Kenexa believes the acquisition of is compelling for a number of reasons, including the following:
  • Compensation management is highly synergistic with Kenexa's current suite of talent acquisition and retention solutions

  • has established a market leadership position in the on-demand, compensation management market
  • and Kenexa have complementary business models as both companies deliver a combination of software and proprietary content through a subscription-based, on-demand model

  • Kenexa believes there is a significant opportunity to expand's adoption in large organizations and on a global basis

  • Kenexa expects the transaction will have a positive impact on its non-GAAP operating results
Kenexa's management will provide additional, updated financial guidance that includes the expected contribution from on its third quarter 2010 financial results conference call, assuming the acquisition has closed in advance.

Upon completion of the acquisition, Kenexa's non-GAAP results will exclude stock-based compensation expense and amortization of intangibles associated with acquisitions as they have in the past, in addition to non-recurring professional fees associated with completing the transaction and the purchase accounting reduction to's deferred revenue.'s interim chief executive officer, Paul Daoust, said, "Over the last several quarters, has executed an aggressive restructuring plan to enable the company to focus on our core businesses and areas of competitive advantage. We believe's acquisition by Kenexa will enable us to capitalize on our market leading software and data in compensation, talent management and consumer offerings. will now have access to a much larger global sales and services organization, greater R&D resources and overall financial strength to provide our customers with confidence that we will be able to meet their needs from a long-term perspective. We believe that the combination of and Kenexa will provide a unique, end-to-end value proposition that positions our combined organization very well in front of an eventual improvement in the economy and hiring environment."

(read complete Press Release)

Permalink  . -.  Todays Bugler  . -.  Send To a Friend  . -.  Readership Feedback

Guide to the
Top Specialty Boards
Where Top Candidates Seek Career Opportunities
Call Center
Drivers / Trucking
Enviro/Occup. Health & Safety
Health / Medical
Security Clearance
For more Specialty Boards, visit:
Employer's Corner on

For more great articles - search our archives:
UpComing Event
Annual WITI Women and Technology Summit
WITI (Women In Technology International), the world's leading professional organization for executive women in technology, will truly inspire "Collaboration, Strategy and Growth" through hands on speaking engagements and panel discussions at the Annual WITI Women and Technology Summit in San Jose, CA September 12-14, 2010.

WITI represents the ideal market for business Networking - CIO's, executive women and men as well as leaders in technology from around the world converge at WITI's Annual Women and Technology Summit to discuss and collaborate on innovative solutions to common business challenges, and explore new business opportunities.

Enjoy the Bugler and review the latest Recruiting Blogs.

Contacting Us:
Mill Valley, CA 94941

Copyright © 2013 interbiznet. All rights reserved.
Materials written by John Sumser © TwoColorHat. All Rights Reserved.

The Electronic Recruiting News
Sign-up to receive this newsletter in email each day.
Email Address:
Request: Subscribe Unsubscribe
The interbiznet Bugler
Sign up and receive a concise, daily briefing on recruiting industry news.
Email Address:
Request: Subscribe Unsubscribe

Click On Our Sponsors

ERN | Bugler | Blogs | Candidates | Advertise | HR Jobs |





    Industry News

  -  ERNIE
    Industry Article


Please Click On Our Sponsors


  • Kenexa & Salary
  • Highest Paid Executives
  • Clear Writing
  • Global HR Practices
  • Benefits Decisions
  • Gain in Jobs
  • Generation Z
  • The HR Buyer
  • HealthCare Cost
  • RPO Providers
  • IT Training
  • Experts
  • Experts
  • Steve Browne
  • Albert Bandura
  • Gabriel Institute
  • Workforce Trends
  • Leadership
  • Jobs Recovery
  • Mid-size Co Growth
  • Internal Sourcing
  • Employment Stats
  • Competitive Benefits
  • Annual Job Review
  • Business Environment
  • Improving Market
  • .jobs
  • Newspaper Primer
  • Behavioral Targeting
  • Craigslist's Traffic
  • Fund Your TEAM


         © 2013 interbiznet.
         All Rights Reserved.