Wayne, PA-based Kenexa has completed its acquisition of BrassRing, a provider of on-demand talent acquisition software. Announced in October, the acquisition extends Kenexa’s ability to deliver global human capital management (HCM) products and services.
“Together, we expect that Kenexa and BrassRing will intensify its operational strength through the combination of our respective R&D, product management, and services teams. Most of all, this merger means that our customers will have access to an even more expansive suite of products and services, as well as an intensified global support network," said Rudy Karsan, Kenexa’s CEO.
Kenexa financed the approximately $115 million purchase price for the acquisition through a combination of cash and $65 million in borrowings under a new $75 million credit facility. Financial details are archived in a Kenexa call dated October 6, 2006 and accessible at http://www.kenexa.com/invest_webcast.htm.
Kenexa Corporation provides outsourcing, employee research and software to aid the workforce. Kenexa solutions include applicant tracking, employment process outsourcing, onboarding, skills and behavioral assessments, structured interviews, performance management, multi-rater feedback surveys, employee engagement surveys and HR Analytics. The company employs more than 900 people worldwide.
