Kenexa

In 1987, an executive recruiter named Barry Raymond met an actuary, Nooruddin 'Rudy' Karsan, and they founded an executive search firm called Raymond Karsan Associates. Initially specializing in the insurance industry, the firm focused on recruitment services. As technology evolved in the early 1990s, the company saw an opportunity beyond just placing candidates. They began developing their own software to streamline the human resources process, transforming their expertise into digital tools for talent management. The company, renamed Kenexa in 2000, shifted its focus to providing comprehensive, web-based human capital management solutions. This suite of software and consulting services helped businesses manage everything from applicant tracking and employee performance to retention. This strategic pivot paid off, leading to a major milestone in June 2005 when Kenexa went public with an initial public offering. The final chapter of Kenexa's independent journey came in 2012. Recognizing the growing importance of talent management and data in business, IBM acquired Kenexa for approximately $1.3 billion. The acquisition integrated Kenexa's software and vast client base, which included over half of the Fortune 500, into IBM's push toward building a 'smarter workforce'.