By Svea Herbst-Bayliss

NEW YORK (Reuters) -Hedge fund Irenic Capital Management on Tuesday urged Kinaxis to see who may want to buy the Canadian software company and warned its board against making "reactive decisions" and taking "half measures."

The board "should initiate a full strategic review including soliciting interest for a sale for the whole company," Irenic said in a statement, echoing other investors' private and public calls for the company to put itself up for sale.

Irenic, run by former Elliott Investment Management and Indaba Capital Management executives Adam Katz and Andy Dodge, called Kinaxis a "world-class software asset" that needs to find a new chief executive officer and head of sales and also needs to review interest in the company from potential financial and strategic buyers.

Earlier on Tuesday the supply chain management software supplier said it had hired Goldman Sachs, without disclosing the purpose. But it also said the board "strongly believes that execution of its strategic plan is the best path to maximize shareholder value."

Irenic said Kinaxis' new Executive Chairman Robert Courteau said there has been inbound interest from financial sponsors, but the board was currently unwilling to engage them.

"The Board is focused on enhancing value for shareholders, is fully aware of its fiduciary duties, and will continue to act accordingly," a Kinaxis spokesperson said.

The spokesperson did not directly respond to a request for comment on what interest the company has received and how it is engaging.

Irenic said the board cannot make decisions about the "best path forward without first considering alternative paths," expressing concern the board is not fully examining potential interest in the company.

Investment firm Daventry Group last week publicly urged Kinaxis to put itself up for sale, calling it a high quality asset that many buyers would pay a "healthy premium" to own.

Daventry, together with its affiliates, beneficially owns or controls approximately 1.4% of the outstanding stock of Kinaxis, which has a market value of about $3.2 billion.

(Reporting by Svea Herbst-Bayliss; Editing by David Gregorio and Jamie Freed)