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IBM yesterday reported that it has completed the acquisition of HR software provider Kenexa in a deal worth US$ 1.3 billion. The firm first announced the takeover in August this year, a strategic move to increase IBM's competition in the recruitment software market.
Kenexa provides cloud-based technology and consulting services, also supplying recruiting and talent management solutions. With the closing of the acquisition, 2,800 Kenexa employees will join IBM.
But the firm has come under fire this week in India where the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) will follow due procedure to take back some of the land allotted to Kenexa.
APICC wants to take back 21.16 acres of land out of the 25 acres allotted to Kenexa Technologies in Rushikonda in eastern India. Kenexa had promised to create 2,500 jobs in return for getting the land but has generated just under 400 jobs since an agreement was reached. This translates into 100 jobs per acre.
“Kenexa has been acquired by IBM, if they have any internal problems in surrendering the land, it is for them to resolve the issue. The IBM has officially agreed to surrender the land,” claimed T.V Ramana Murthy of the APIIC.