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Sponsored Links IBM enters web applications market with $1.3 billion Kenexa buy Tweet Share this Email Print Related News UPDATE 3-Salesforce Q3 forecast misses estimates, shares drop Thu, Aug 23 2012 UPDATE 2-Salesforce 3rd-qtr forecast disappoints, shares drop Thu, Aug 23 2012 Cisco jumps on dividend hike, props up network gear makers Thu, Aug 16 2012 Groupon sheds quarter of its value as Street questions biz Tue, Aug 14 2012 Actian Corp offers $139 million for Pervasive Software Mon, Aug 13 2012 Analysis & Opinion Knight Capital crisis brings new push for rules on trading, technology, structure Knight Capital’s filings reveal scant oversight focus on tech risks for board Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » The IBM logo is seen outside the company's offices in Petah Tikva, near Tel Aviv October 24, 2011. Credit: Reuters/Nir Elias By Jim Finkle and Sayantani Ghosh Mon Aug 27, 2012 11:22am EDT (Reuters) - IBM Corp will buy Kenexa Corp for about $1.3 billion to enter the human resource software market in a move that would likely increase competition with Oracle Corp and SAP AG who recently bought into the sector. The deal underpins the importance that slow-growing technology giants place on faster-growing, web-based software makers, whose products are less vulnerable to the economic downturn as there are no upfront costs for program licenses, dedicated hardware or installation. Germany's SAP bought Kenexa's competitor SuccessFactors for $3.4 billion in cash last December, while Oracle bought rival Taleo Corp for about $1.9 billion in February. The two companies made other cloud purchases, including RightNow Technologies and Ariba Inc. Kenexa shares jumped nearly 42 percent, equaling the premium offered, to a life high of $45.92 on the New York Stock Exchange on Monday. The acquisition suggests that IBM is ready to find a foothold in the fiercely competitive market for delivering business applications via the web. It brings the company face-to face against close partner SAP and rivals Oracle and Salesforce.com Inc, the largest maker of web-based software. "This is a big step," said Nucleus Research analyst Rebecca Wettemann. The move makes it clear that IBM is serious about taking on Oracle, SAP and Salesforce.com in the business applications market, the analyst said. "This brings the arms race up a notch." IBM is expanding in the fast-growing field of delivering business applications through the Web as its new CEO Ginni Rometty looks to make her imprint on the 100-year-old company that is widely considered one of the world's most conservative computer technology firms. "IBM has previously suggested the return on software acquisitions is the best it has seen in recent years. We expect continued acquisition activity this year," ISI Group analyst Brian Marshall said in a note. IBM has focused its highly profitable software division on email, databases, operating systems and "middleware" — programs that make up the plumbing of computer networks. It has shied away from selling applications such as human resources software. "Following Oracle's move into hardware and SAP's move into the database market, both of which position these leading apps companies more in IBM's traditional markets, IBM has perhaps fewer reservations about participating in the apps and software-as-a-service market," Nomura analysts said. "The Kenexa acquisition will complement IBM's social business and HR business services leadership," IBM said, adding that it expects the transaction to close in the fourth quarter. Kenexa has more than 8,900 customers across financial services, pharmaceuticals, retail and consumer industries, it said. 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