February 21 - 11:02
45D
Kronos and Ultimate Software merge to form $22 billion giant
The HR software market has seen a major merger between two industry leaders. Kronos and Ultimate Software will combine to form a company worth $22 billion. Kronos CEO Aron Ain will lead the enterprise once the merger closes. It will have $3 billion of annual revenue and 12,000 employees worldwide. Hellman & Friedman LLC is currently the controlling shareholder of both Kronos and Ultimate Software.
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