Salary.com completes ITG purchase

Salary.com said today it has closed the asset purchase of ITG Competency Group of New Jersey.

Salary.com, a Waltham-based company that sells on-demand compensation management solutions that help businesses and individuals to manage pay and performance, said that as part of the transaction, it paid $1.5 million in cash and $500,000 in Salary.com stock for ITG's competency management data and design consulting business.

ITG will operate as a strategic business unit of Salary.com and will continue to provide consulting services on competency development as well as partner reseller services, Salary.com said.
(By Chris Reidy, Globe staff)