Moody's: IBM purchase is positive

Moody's Investors Service said that International Business Machines Corp's. announcement that it agreed to buy human resource software firm, Kenexa, is credit positive because it complements IBM's strategy to create cloud-based software technology and consulting services that help customers gain business intelligence through social networks to create a more connected and smarter workforce.

The announcement is "consistent with IBM's strategy to build out its software and services capability through internal research and development efforts as well as through acquisitions which IBM said would aggregate $20 billion as part of its five-year 2015 roadmap," Moody's senior vice president Richard Lane said in a news release.

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