Market Overview

Kronos and Ultimate Software Complete Merger

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Kronos Incorporated and Ultimate Software today announced that they have completed their planned merger as announced on Feb. 20, creating the world's most innovative human capital management (HCM) and workforce management company to help organizations across all industries manage their people more effectively with an unparalleled combination of cloud solutions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200401005548/en/

News Facts

  • The merger of Kronos and Ultimate creates one of the world's largest cloud companies – with 12,000 employees worldwide and approximately $3 billion in revenue – to deliver enhanced scale and an even stronger position in the HCM marketplace with highly complementary products and a combined 70 years of expertise.
  • Aron Ain, longtime Kronos chief executive officer, is the chief executive officer and Chairman of the new company, guiding an experienced executive team comprised of leaders from both Kronos and Ultimate.
  • The new company shares joint headquarters in Lowell, Mass. and Weston, Fla., with dozens of offices around the world. A new company name will be announced in the coming months.

Supporting Quotes

  • Aron Ain, chief executive officer, Kronos and Ultimate

"What a wonderful marriage this merger will be, creating a People Inspired company overflowing with greatness. While today is a very proud day for Kronos and Ultimate – and for me as the very grateful CEO of our combined company – we temper our excitement with respect for the turbulence happening in our world right now. Yet if I needed any more evidence in my heart to know that this merger will be a success, this unprecedented situation has shown our new company's true colors as teams at both Kronos and Ultimate have been collaborating beautifully to ensure we continue to support our customers in expected and unexpected ways while prioritizing the safety of our employees, colleagues, and our collective communities."

Supporting Resources

About Kronos Incorporated

Kronos is a leading provider of workforce management and human capital management cloud solutions. Kronos industry-centric workforce applications are purpose-built for businesses, healthcare providers, educational institutions, and government agencies of all sizes. Tens of thousands of organizations — including half of the Fortune 1000® — and more than 40 million people in over 100 countries use Kronos every day. Visit www.kronos.com. Kronos: Workforce Innovation That Works.

About Ultimate Software

Ultimate Software is a leading global provider of cloud human capital management and employee experience solutions, with more than 51 million people records in the cloud. Ultimate's award-winning UltiPro delivers HR, payroll, talent, and time and labor management, as well as HR service delivery solutions. Founded in 1990, Ultimate is headquartered in Weston, Florida, and employs approximately 6,000 professionals. More information on Ultimate's products and services can be found at www.ultimatesoftware.com.

© 2020 Kronos Incorporated and Ultimate Software. All rights reserved. Kronos and the Kronos logo are registered trademarks and Workforce Innovation That Works is a trademark of Kronos Incorporated or a related company. See a complete list of Kronos trademarks. All other trademarks, if any, are property of their respective owners.

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