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Salary.com to Buy Genesys

Salary.com, the Waltham, MA-based compensation and personnel-management software firm, announced that it has agreed to acquire human resource-management software provider Genesys Software Systems, which has an office in Methuen, MA. Salary.com, which expects to close the deal by December 17, has agreed to buy the company for a total of $6.8 million in cash and stock as well as up to $2 million in additional payments to Genesys stockholders and option owners depending on how well the business performs over the 12 months after the deal closes. Full details of the buyout agreement are in this SEC filing.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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Jason
12/15/08 10:48 am

Very interesting. Salary.com is going towards more software space, and leaving the salary data space where payscal.com salarylist.com are still doing. And a M&A in this economy is a strong sign for salary.com business