Reuters logo
UPDATE 1-Kenexa to buy Salary.com for $80 mln
September 1, 2010 / 11:22 AM / 7 years ago

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below