IBM has signed a $1.3bn deal to acquire a cloud-based human resources (HR) management firm Kenexa.
The deal is expected to make IBM a competitor to database maker Oracle and German business software maker, SAP who have recently entered the HR software market.
IBM social business general manager Alistair Rennie said: "Every company, across every business operation, is looking to tap into the power of social networking to transform the way they work, collaborate and out innovate their competitors."
Kenexa offers various cloud-based applications for HR functions which include recruiting, compensation, performance management and employee surveys, in addition to consulting services.
According to IBM, Kenexa ‘s front-office process solutions will allow it to provide strategic consulting, a social technology platform and capability to assist clients allow a smarter workforce.
Kenexa claims to offer services to about 8,900 clients across various industries which include financial services, pharmaceuticals, retail and consumer, as well as more than half of the Fortune 500.
This article is from the CBROnline archive: some formatting and images may not be present.
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