IBM has offered $46 per share for Kenexa who specialise in Cloud based HR applications.

The move comes as IBM looks to increase its social enterprise offerings against its competitors, with Oracle buying Taleo and SAP acquiring SuccessFactors. The share payments will reach a total of £824 million for the acquisition of the Fortune 500 company.

Alistair Rennie, general manager of IBM social business, said: “I expect us to move quickly post-closing to bring all of this value together"