(By Mani) The acquisition of Kenexa Corp. (NYSE:KNXA) adds another revenue stream to International Business Machines Corp. (NYSE:IBM) in Software-as-a-Service (SaaS) domain, which is being adopted by many technology companies.
Kenexa, which is being acquired for $1.3 billion in cash, or $46 a share, uses SaaS, data analytics and consulting services to provide recruiting and talent management solutions. Notably, products such as their 2x BrassRing allow companies to streamline the recruiting process from search to hire. Kenexa supports more than 8,900 customers across a variety of industries, including financial services, pharmaceuticals, retail and consumer, including more than half of the Fortune 500.
With a SaaS based revenue stream, IBM is continuing to bolster its software and services offerings. The company stated goal of $20 billion in MA activity over the next 4-5 years remains on track.
?In our view this (Kenexa deal) is validating the need for: 1) SaaS based revenue, 2) Big Data Analytics and 3) Organized Human Capital Recruitment/Retention,? RBC Capital Markets analyst Amit Daryanani wrote in a note to clients.
The adoption of social business technology is supporting the growth of big data and the need for analytics in the enterprise. A recent global IBM study revealed that 57 percent of CEOs identified social business as a top priority and more than 73 percent are making significant investments to draw insights into available data. The survey also reveals that 70 percent cite human capital as the single biggest contributor to sustained economic value.
According to Forrester Research,
We recommend you visit the following site for more complete information and related topics. Article source: http://www.istockanalyst.com/finance/story/6016263/international-business-machines-kenexa-deals-suggests-industry-shift-to-saas
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