Kronos Incorporated (KRON) and Ultimate Software have entered into a definitive merger deal. The new company will be jointly headquartered in Lowell, Mass. and Weston, Fla. Aron Ain, Kronos CEO, will be the chief executive officer and Chairman of the combined company.
Upon closing, the combined company will have a stronger position in the fast-growing HCM marketplace with revenues of approximately $3 billion, more than 12,000 employees worldwide, and an enterprise value of $22 billion. The combined company is estimated to add 3,000 employees over the next three years.
Ultimate Software is a global provider of cloud human capital management and employee experience solutions, with more than 51 million people records in the cloud.
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