Kronos completes merger with Ultimate Software
Kronos Incorporated and Ultimate Software have announced the completion of their planned merger as announced on Feb. 20, creating the 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 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.
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. 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.
Aron Ain, Chief Executive Officer, Kronos and Ultimate, comments, “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."