INSUBCONTINENT EXCLUSIVE:
Kronos Incorporated and Ultimate Software have announced that they have entered into a definitive merger agreement to form one of the
largest cloud computing companies ever.The new company will provide human capital management (HCM) and workforce management solutions to
help organizations across all industries manage their employees more effectively.The deal will also bring together the best of each
company's award-winning solutions including Ultimate's UltiPro HCM and Employee Experience products along with Kronos Workforce
Ready.Kronos and Ultimate have been consistently recognized around the world as great places to work and both companies are multi-year
winners of the Glassdoor Employees' Choice Best Place to Work and the Fortune 100 Best Companies to Work For honors.Once the merger between
the Kronos and Ultimate Software closes, the combined company will have revenues of $3bn with more than 12,000 employees worldwide
It will also have an enterprise value of $22bn and there are plans to grow the company further by adding 3,000 employees over the next three
years.Kronos CEO Aron Ain will be the chief executive officer and chairman of the combined company and he will lead an experienced executive
team made up of leaders from both Ultimate and Kronos.The new company will operate out of dual headquarters in Lowell, Massachusetts and
Weston, Florida with dozens of offices around the world.Ain shared his excitement regarding the merger of the two companies in a press
talented Kronos and Ultimate teams will create a company that is truly People Inspired
workforce management solution for organizations around the world
With a combined 70 years in business, we are poised for tremendous success
For our employees, customers, and partners there is an even better future ahead
