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IBM to acquire HR software company Kenexa for $1.3 billion
Armonk, N.Y. -- IBM has entered into a definitive agreement to acquire Kenexa, a provider of human resources software and consulting services for approximately $1.3 billion in cash.
The acquisition helps make the Armonk, N.Y., company more competitive with database maker Oracle Corp. and German business software maker SAP AG, said Rick Sherlund of Nomura Equity Research, Kenexa’s software is intended to help companies recruit and manage talent through online social networking, collaboration and consulting tools.
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Best Buy and Schulze in due diligence deal
Minneapolis -- Best Buy Co. announced Monday that it as agreed to let founder and former chairman Richard Schulze conduct due diligence and form an investment group with private equity sponsors as he tries to take the retailer private.
Best Buy said its agreement with Schulze establishes a non-exclusive, orderly process that satisfies his requests and protects the interests of shareholders.