Kenexa to acquire BrassRing for $ 115 mn

Hyderabad, Oct 11(UNI) Employment process major Kenexa today announced it will acquire BrassRing, a leading provider of talent management solutions to enterprise organisations across multiple vertical markets, for 115 million US Dollar.

The price tag for BrassRing includes net cash payment of ten million USD.Kenexa currently expects to finance the deal through a combination of cash and borrowings from its credit facility.

''The transaction is expected to close in the fourth quarter, subject to customary conditions,'' a company release here said.

BrassRing has approximately 180 customers across verticals such as aerospace, financial services, healthcare and medical technology.

Its customer base includes Time Warner, IKEA, ConAgra Foods, Inc, RR Donnelly, and Nissan Motor Company.

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