Kenexa Successfully Completes Acquisition Of Salary.com

Kenexa Corporation (Nasdaq: KNXA) today completed its previously announced acquisition of Salary.com, Inc. (Nasdaq: SLRY). As a result of the merger, Salary.com is now a wholly-owned subsidiary of Kenexa.

Immediately prior to the merger, Spirit Merger Sub, Inc., a wholly-owned subsidiary of Kenexa, successfully completed its cash tender offer to purchase all of the outstanding shares of common stock of Salary.com. Based on information from the depositary for the tender offer, as of the expiration of the tender offer at 12:00 midnight, New York City time, at the end of the day on September 30, 2010, 15,633,332 shares of common stock of Salary.com were validly tendered and not validly withdrawn prior to the expiration of the tender offer, representing approximately 86.8% of the Salary.com’s outstanding common stock (79.3% of Salary.com’s outstanding common stock on a fully diluted basis). Additionally, the depositary indicated that an additional 1,003,862 of Salary.com’s shares were tendered by notice of guaranteed delivery. All validly tendered shares have been accepted for payment in accordance with the terms of the tender offer.

Immediately after the tender offer, Spirit Merger Sub exercised its option to purchase 21,067,796 newly-issued shares of common stock from Salary.com. As a result, after the exercise of this option, Spirit Merger Sub owned one share more than 90% of the shares of Salary.com’s outstanding common stock on a fully diluted basis. Immediately following the exercise of this option, Spirit Merger Sub completed the merger in accordance with the provisions of Delaware law that authorize the completion of the Merger without a vote or meeting of the stockholders of Salary.com. Remaining stockholders of Salary.com will receive $4.07 in cash, without interest and less any applicable withholding taxes, for each outstanding share of Salary.com common stock, which is the same amount per share that was paid in the offer. We have made applications to terminate the registration of Salary.com’s common stock under the Securities and Exchange Act of 1934, as amended, and to cease trading of such shares on the Nasdaq Capital Market.