Kenexa
(NYSE:KNXA), a global provider of business solutions for human
resources, today announced that it has entered into a definitive merger
agreement with privately-held OutStart,
a leading provider of Software as a Service (SaaS) e-learning solutions
and services. The closing of the transaction is subject to customary
conditions, including the receipt of stockholder consent. Kenexa expects
to close the transaction shortly. This acquisition, when consummated,
will expand Kenexa's reach into the e-learning market and enable Kenexa
to provide a broader and deeper suite of talent management solutions.
Kenexa will integrate OutStart's Learning Management Suite, which
includes award-winning social and mobile learning solutions, with
Kenexa's Global Talent Management solutions including its Performance
Management suite.
"Kenexa has been working aggressively toward the delivery of a complete,
integrated suite of SaaS-based talent management solutions," said Rudy
Karsan, chairman and chief executive officer at Kenexa. "We have the
leading talent acquisition solution for large organizations, and we
launched our performance management suite last year as well. With the
addition of OutStart's capabilities, Kenexa will be able to offer
customers an award-winning suite of SaaS learning solutions plus
learning expertise and a great team with more than a decade of
experience in learning management."
"Kenexa made a great decision acquiring OutStart, a full suite, global,
SaaS Learning Management Solution provider which has been a market
leader in the social and mobile learning space, and one of the pioneers
in the LCMS market" said Stacey Harris, vice president of research with
Brandon Hall. "This acquisition will give Kenexa both expertise and
depth in learning management solutions. With Kenexa's ability to
leverage its award-winning global solutions with a full suite of ITM
offerings, the company will be able to provide customers with a unique
package of content, services and technology."
OutStart, which is based in Boston and has offices throughout North
America, Europe and Asia, has more than 300 customers ranging from large
global organizations to mid-size companies and government entities. The
company delivers a portfolio of inter-related mobile, social and
learning knowledge solutions, which enables organizations to derive more
value from their people assets and more effectively collaborate,
converse and learn while increasing their social and knowledge capital.
"Kenexa is a global leader in talent management and we expect to be able
to join forces to complete their suite of Integrated Talent Management
offerings," said Massood Zarrabian, CEO of OutStart. "We can bring
significant value to Kenexa and its customers by adding our social,
mobile, learning management and learning content management capabilities
to the Kenexa 2x Integrated Talent Management platform. Our customers
will benefit from the depth and breadth of Kenexa's talent management
offering and global support capabilities that will now be available to
them."
The Kenexa 2x platform was designed to integrate all talent management
functions and data, including a unified talent record, mobile tools and
robust analytics into one single system that provides a consistent user
interface, security features and reporting engine while allowing for a
customer's future global expansion.