Kronos incorporated and ultimate software announced that they have entered into a definitive merger agreement to form one of the largest cloud computing companies.
The new venture will provide human capital management (HCM) and workforce management solutions that help organizations in all industries manage their employees more effectively.
The deal will also bring together the best of each company's award-winning solutions, including the ultimate in UltiPro HCM and Product Worker Experience along with Kronos' workforce ready.
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Kronos and Ultimate have been consistently recognized worldwide as excellent places to work and both companies are perennial winners in the Employees' Hall of Choice Best Place to Work and Fortune 100 Best Companies to Work for Honors list.
United company
Following the merger between Kronos and Ultimate Software shuts down, the combined company will have $3 billion in revenue with more than 12000 employees worldwide. It will also have a $22 billion facility and there are plans to further expand the facility by adding 3 employees over the next three years.
Kronos CEO Aron Ain will become CEO and Chairman of the combined company, and he will be led by an experienced leader, a team made up of leaders from End and Kronos.
The new company will operate from two headquarters in Lowell, Massachusetts and Weston, Florida with dozens of offices around the world.
Aina shared his excitement about the merger of the two companies in a press release announcing the deal stating:
“I have never been more excited in my 40s with Kronos! By bringing together our passionate and incredibly talented Kronos and the ultimate team to create a company that truly inspires. Together we can expand the measurement and create the industry's most comprehensive human capital and workforce management solution for organizations around the world. With a combined 70 years in business, we are on the cusp of huge success. There is an even better future for our employees, customers and partners. Our top priority as we complete this merger is to ensure a smooth transition for our people and continue to exceed our customers' expectations.”
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