- Operational Efficiencies and Global Technology to Benefit Growing International Customer Base -
WAYNE, Pa. (November 13, 2006) -- Kenexa® (NASDAQ: KNXA), a leading provider of talent acquisition and retention solutions, today announced that it has completed its acquisition of BrassRing, a leader in on-demand talent acquisition software. Originally announced October 6, 2006, the acquisition of BrassRing 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 Chief Executive Officer.
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 that the Company entered to in connection with the closing of the transaction.
Financial details are archived in the Kenexa call dated October 6, 2006, and accessible at http://www.kenexa.com/invest_webcast.htm.
About Kenexa
Kenexa Corporation (NASDAQ:KNXA) provides outsourcing, employee research and software to help organizations more effectively recruit and retain a productive 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. Headquartered in Wayne, Pa. (outside Philadelphia), Kenexa employs more than 900 people worldwide. More information about Kenexa and its global locations can be accessed at www.kenexa.com.
Note to Editors: Kenexa is a registered trademark of Kenexa Corporation. Other product or service names mentioned herein are the trademarks of their respective owners.
Forward Looking Statements
This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth in our registration statement and other fillings with the Securities and Exchange Commission - and specifically those under the caption "Risk Factors" in Kenexa's most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission and as revised or supplemented by Kenexa’s quarterly reports on Form 10-Q.. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors, Kenexa's ability to implement business and acquisition strategies or to integrate acquisitions (including BrassRing). Kenexa does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
MEDIA CONTACTS:
Sarah Teten
Kenexa
1-800-391-9557
sarah.teten@kenexa.com
Jeanne Achille
The Devon Group
1-732-542-2000, ext. 11
jeanne@devonpr.com
INVESTOR CONTACTS:
Kori Doherty
Integrated Corporate Relations
617-956-6730
kdoherty@icrinc.com