International Business Machines Corp. (IBM) agreed to acquire Kenexa Corp. (KNXA) for $1.3 billion in cash as IBM bolsters its offerings to clients looking to use data from social media to enhance their recruitment processes.
You’ve got to admire Big Blue’s chutzpah. It’s not every stodgy tech company that’s willing to pay a 42% premium for an HR SaaS vendor with an unprofitable history.
I wonder how Uncle Warren feels about this one?
(Source: news.morningstar.com)
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