IBM to Acquire Kenexa

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Computer giant IBM has announced it will buy software company Kenexa. The deal will cost IBM $1.3 billion in cash, paying shareholders a 42% premium on Friday's closing, making it $46 a share. Kenexa creates recruiting software that works through social networks and helps get companies in touch with talent. It also works to help employees collaborate on projects through similar tools. According to the New York TImes, this move is IBM's attempt to make a bigger impact in the social networking sphere, with other tech giants like Microsoft making similar social media acquisitions.