Who owns ultimate software

Our decision was also made with the best interests of our 5, employees and our more than 5, customers at heart. This change will bring meaningful benefits to our employees and customers—both in the long and short terms. Since all of our employees are given equity in Ultimate when they join us, as stockholders, this transaction will result in immediate financial upside for them. For almost 29 years, Ultimate has focused exclusively on helping businesses improve the experience of their employees through leading HR and payroll solutions, and in recent years, through a comprehensive human capital management suite.

Ultimate will have the right to terminate the merger agreement to accept a superior proposal subject to the terms and conditions of the merger agreement. Our award-winning UltiPro delivers HR, payroll, talent, and time and labor management as well as HR service delivery solutions. Founded in , Ultimate is headquartered in Weston, Florida, and employs more than 5, professionals.

In , Fortune ranked Ultimate 3 on its prestigious Best Companies to Work For list, our seventh consecutive year in the top 25; 1 on its Best Workplaces for Women list; and 1 on its Best Workplaces for Millennials list, our second year at the top. For more information, please visit www.

We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work. Kronos is a leader in workforce management, scheduling, and time and attendance technology. The companies did not reveal their plans for future product lines or addressing the duplicate functionality of current offerings, and said nothing will change in the short term.

Holger Mueller, vice president and principal analyst at Constellation Research, a technology research and advisory firm based in Cupertino, Calif. Laurano said the deal could be an opportunity to do more with talent acquisition TA. Mueller speculated that the KronosWorks user conference in November will probably be the earliest opportunity to hear publicly about a combined product strategy.

HR users should be reaching out to their Kronos and Ultimate reps now. If I'm in mid-implementation, does that get interrupted? On the latest HR Tech Weekly podcast , HRExaminer's John Sumser and Sierra-Cedar's Stacey Harris discussed whether the two companies will eventually cut off relationships with other vendor partners that are now in direct competition with them after the merger. Harris said that HR buyers can suffer when "two partners who used to work really nicely together … are no longer as friendly as they used to be.

Sumser added that "it starts to poke a big, giant hole in the idea that you get something special by buying into a single vendor and their ecosystem. That has been good, conventional wisdom for four or five years now, that if you really want to succeed, you sign up with a single vendor, and you don't look at the rest of the HR tech market. You only look at the things that have good relationships with your partner, your preferred platform, and this will poke a hole in that.

If you want workforce management functionality, you're going to have to go outside of the ecosystem. Mueller said Ultimate customers using Infor's Workbrain workforce management product in partnership with Ultimate should explore switching to Kronos Workforce Dimensions, which will be the combined company's long-term solution.

No merger is ever easy, but in a few months we'll likely hear rumblings on how it is playing out both internally and in sales and renewal conversations. The two companies are expected to become one legal entity by March Lowell, Mass. Aron Ain, Kronos CEO since , will be the CEO and chairman of the combined company, which plans to add over 3, employees in the next three years.

About Ultimate Software Ultimate Software is a leading global provider of cloud human capital management and employee experience solutions, with more than 51 million people records in the cloud. Founded in , Ultimate is headquartered in Weston, Florida, and employs approximately 6, professionals.

We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems.

Further information is available at www. Follow Blackstone on Twitter Blackstone. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure.

GIC has investments in over 40 countries. Headquartered in Singapore, GIC employs over 1, people across 10 offices in key financial cities worldwide.