FINANCE

IBM to acquire HR software company Kenexa for $1.3 billion

BY Marianne Wilson

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.

IBM said the acquisition will bolster its leadership in helping clients embrace social business capabilities while gaining actionable insights from the enormous streams of information generated from social networks every day.

“Every company, across every business operation, is looking to tap into the power of social networking to transform the way they work, collaborate and out innovate their competitors,” stated Alistair Rennie, general manager of IBM’s social business division. “IBM. is uniquely positioned to help clients generate real returns from their social business investments, while helping them gain intelligence into the data being generated in these networks to be more competitive in their markets.”

Industry analysts said the acquisition helps IBM more competitive with database maker Oracle Corp. and German business software maker SAP AG. Earlier this year, Oracle bought HR software maker Taleo Corp., and last December SAP purchased SuccessFactors Inc.

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OPERATIONS

The Finish Line names VP digital technology

BY Staff Writer

Indianapolis — The Finish Line announced that Harvey Bierman has joined the company as VP digital technology.

Bierman comes to Finish Line after seven years with Demandware, where he most recently served as senior director, global strategic solutions.

“Harvey’s appointment is an important step toward driving long-term growth for Finish Line through aggressive expansion of our digital business,” said Chris Ladd, executive VP chief digital officer for Finish Line.

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REAL ESTATE

Carson’s store in Chicago suburb to close

BY Staff Writer

York, Pa. — The Bon-Ton Stores Inc. said that it plans to close its Carson’s store in the River Oaks Mall in Calumet City, Ill., when the lease expires in January.

The department store company said doesn’t expect costs tied to the closing to be material.

Bon Ton received the leasehold interests in the store as part of its Northern Department Store Group acquisition in 2006.

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