Kenexa has acquired Webhire
Kenexa (Nasdaq: KNXA), a leading provider of talent acquisition and retention solutions acquired Webhire (Nasdaq: HIRE), a leading provider of on-demand talent management solutions for the mid-market and healthcare markets. Under the terms of the agreement, Kenexa agreed to pay an aggregate of approximately $34 million in cash, as may be adjusted to reflect certain working capital adjustments. Alan Fullerton, a partner at Mirus Capital Advisors, was the advisor to the Board of Directors of Webhire.
Webhire, Inc., formerly Restrac, is a pioneer in the recruiting software category. With more than 200 customers from a variety of industries, Webhire provides solutions that help customers attract, hire and retain top talent. Recently, Webhire expanded its product family to include the availability of its new onboarding product, which helps employers improve the onboarding process for new employees, reducing initial time-to-productivity and improving retention.
Kenexa’s Chief Executive Officer, Rudy Karsan, stated, “We believe Webhire has outstanding product offerings, as well as penetration into several of Kenexa’s key markets, such as healthcare. This acquisition not only brings Webhire’s innovations to Kenexa’s talent management suite, it also adds talented, experienced resources to our organization that can support the needs of our growing customer base through extreme service.” Karsan continued, “We believe this strategic move will enable Kenexa to recognize operational efficiencies through combined R&D, product management and sales and marketing. We also expect that our respective customers will benefit from the additional solutions that the combined organization will be able to deliver.”
Webhire’s Chairman and Chief Executive Officer, Susanne Bowen, said, “Both Kenexa and Webhire share the vision and strong commitment of delivering market-leading HCM products and services that provide the foundation for long-term and successful customer relationships. As a result, we believe that customers on both sides of this relationship will experience enhanced value through additional subject matter expertise as well as product and service offerings.”
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.Back to Transactions