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IBM to Buy Social-Business Company Kenexa for $1.3 Billion

International Business Machines Corp. agreed to buy Kenexa Corp. for about $1.3 billion in cash, adding social-networking services that help companies handle human resources and recruiting.

IBM will pay $46 a share for the Wayne, Pennsylvania-based company, a 42 percent premium over the stock’s closing price on Aug. 24. The deal is expected to be completed in the fourth quarter, IBM said today in a statement.