UPDATE 1-Kenexa to buy Salary.com for $80 mln
* Kenexa to pay $4.07 a share
* Offer at 42 pct premium
* Sees positive impact on operating results
Sept 1 (Reuters) - Kenexa Corp KNXA.O, which provides software for managing human resources, said it will acquire Salary.com Inc SLRY.O for about $80 million in cash to expand its presence into compensation management.
Kenexa will pay $4.07 a share, a premium of about 42 percent to Salary.com's closing price on Tuesday.
Salary.com, which has not posted an annual profit since it went public in February 2007, provides on-demand software that helps businesses manage compensation and performance. Last year, its revenue totaled about $46 million.
Kenexa expects the deal to have a positive impact on its operating results excluding some items, and it also reiterated its full-year outlook.
The company expects to finance the deal through cash and borrowings against its credit facility. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Saumyadeb Chakrabarty and Gopakumar Warrier)
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