Wellesley, MA -- Salary.com, the technology leader in employee compensation data, software and services, today announced that it has been acquired from IBM by its founding team. Under the leadership of the returning management team, Salary will deliver next generation analytical tools that further enable companies to manage their compensation expenditures as well as provide the market at large with the most accurate, objective information related to employee compensation.
"Compensation is complex, and for today's employers to be successful, they need the tools and data that enable them to simplify the connections between people and pay," said Kent Plunkett, CEO of Salary.com. "Salary is the most widely recognized and trusted source for employer-reported compensation data to facilitate decision-making around employee compensation. On behalf of the founding team, we are thrilled to provide our customers with the high-touch service and expertise that they expect in the compensation space."
Founded in 1999, Salary.com grew rapidly to become one of the most widely recognized sources for reliable information about employee-reported pay levels and compensation-related best practices, trends and policies. Following its move to IPO in 2007, Salary.com was acquired by Kenexa in 2010, and IBM acquired Kenexa in 2012. The original team, in partnership with co-investors H.I.G. Capital and Prudential Capital Group, have reacquired Salary.com from IBM, along with related compensation offerings. The returning team has the goal of enhancing the company's current product offerings and creating additional solutions that help consumers and customers make well-informed, data-based compensation decisions.
Moorgate Securities LLC acted as financial advisor to the founding management team in connection with the transaction. For additional information on this transaction, please see the company's press release.