Merger arithmetic tells us the combination of Kronos and Ultimate will add up to more than 12,000 employees worldwide, with plans for the addition of 3,000 more in three years. HR application software providers Kronos Inc and Ultimate Software Group Inc said on Thursday they would merge to form a cloud-based workforce management company valued at $22 billion. HR users should be reaching out to their Kronos and Ultimate reps now. $(document).ready(function () { The two companies have announced a merger, … Merger arithmetic tells us the combination of Kronos and Ultimate will add up to more than 12,000 employees worldwide, with plans for the addition of 3,000 more in three years. What Does the Kronos and Ultimate Software Merger Mean for HR? And as Harry said, they served somewhat different markets. " Laurano said. " "It makes sense—they're both large, successful companies with similar cultures, leadership and revenues, and the products complement each other," said Madeline Laurano, an industry analyst and founder of Aptitude Research, a Boston-based HR technology research and advisory firm. This Ultimate Software and Kronos merger will allow us to design and deliver the world’s most innovative and effective human capital management and workforce management solutions across all industries and sizes, drawing from and improving upon each individual company’s strengths and specialties. Companies face uncertainty and inconsistencies in work models and the guidance and policy of the return to the office or shop floor from region to region. The merger of Kronos and Ultimate creates one of the world’s largest cloud companies—with 12,000 employees worldwide and approximately $3 billion in revenue—to deliver enhanced scale and an even stronger position in the HCM marketplace with highly complementary products and a combined 70 years of expertise. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. You only look at the things that have good relationships with your partner, your preferred platform, and this will poke a hole in that. Time for a merged Market Move and News Analyis blog post. }); if($('.container-footer').length > 1){ On February 20th Kronos Incorporated and Ultimate Software announced their agreement to merge in an all-stock deal. President-Elect Biden Calls for Paid Leave During Pandemic. In M&A terms, this deal is pretty close to a ‘ merger of equals ’ given the similarity of: revenues ($1.5B for Kronos and $1.4B USD for Ultimate) While much of the analysis of this year’s merger has focused on the Ultimate and Kronos, who rightly are the principal parties in the transaction, the rebrand quickly brings my attention to PeopleDoc, a strong European-based HR service delivery tech provider that has retained its brand independence since Ultimate acquired it in 2018. Just recently, Ultimate Software in Weston, Florida released a major, though not surprising, announcement that they will be merging with Kronos, Inc of Lowell, Massachusetts. Lowell, Mass.-based Kronos serves 16,000 organizations, and Ultimate Software, headquartered in Weston, Fla., serves about 6,900 customers. The two companies have announced a merger, creating the largest pure HR tech company by market share, which could bring changes and new possibilities for customers. Kronos Inc. and The Ultimate Software Group Inc., two of the industry's biggest providers of human resources software, today said they plan to merge into a … • 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. Having market-leading HR service delivery in the suite is amplified, as many B2B technologies have been when the experience delivered by HR to the employee is in direct correlation not only to employee experience but also to trust in leadership and resilience. Past history, of course, tells observers that mergers are always a risk; some go on to become smashing successes, others just smash onto the rocks. So let's dissect the press release in our customary style, it can be found here: Creating Company Valued at $22 Billion Merger brings Three On-Trend Features You Need To Know When Upgrading Your HRMS, 6 Keys To Buying HR Software Successfully, Collaborative Efforts Will Get You to the Finish Line. You have successfully saved this page as a bookmark. The two companies are expected to become one legal entity by March 28. The Kronos-Ultimate Software merger is a very interesting combination. Long rumored, asked for and denied, this merger is now happening. Ultimate Software and Kronos, both controlled by the private equity firm Hellman & Friedman, will merge to form a single HR technology provider with $3 billion in revenue, more than 12,000 employees world-wide, and an enterprise value of $22 billion. The people economics. “Our new brand, UKG, truly unites Kronos, PeopleDoc, and Ultimate both as a business and as people.”. Kronos Incorporated and Ultimate Software today announced that they have entered into a definitive merger agreement to form one of the worlds largest cloud companies. 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. The companies’ boards have approved the deal, which is expected to close in late March. Adam Rogers, chief executive officer, Ultimate said: “The combination of Ultimate and Kronos paves the way to deliver the next generation of employee-facing solutions that will set the standard for the workforce of the future. } Laurano said the deal could be an opportunity to do more with talent acquisition (TA). The new company will be jointly headquartered in … While there is much left to do to bring these teams and products onto one platform, this rebrand represents an energetic start. 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. In this case, the cultures across Ultimate and Kronos are not just known as high performing, but both employee bases are known as downright cheerleaders for both companies’ styles of leadership and overall employee experience. "Proactively plan the switch—it will be painful but worth it," he said. The rebrand included the unveiling of a new tag line, “Our purpose is people.” The announcement of a rebrand normally calls my attention to naming, messaging, and tone of voice. UKG is definitely one to watch. Kronos had already been taken private […] The new company plans to … Kronos Incorporated and Ultimate Software 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 organisations across all industries manage their people more effectively with an unparalleled combination of cloud solutions. Talent management, scheduling, and time and attendance technology cultures is often an overlooked factor for success presents three-way. Kronos Incorporated, PeopleDoc and Kronos merger is a leader in workforce management, scheduling, and Ultimate creates... Copy of our sample forms and templates for your personal use within organization. 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