Originally a manufacturer of time clocks, the majority of Kronos revenue is now derived from software and services. By continuing to use the site, you accept our Privacy Policy and Cookie Policy. “I have never been more excited in my 40 years at Kronos,” Ain said. Kronos has conducted a number of acquisitions,[19] with some of the most notable including: Workforce management software and services company, https://www.kronos.com/about-us/newsroom/kronos-announces-record-2019-annual-recurring-revenue-crosses-1-billion, "Kronos To Hit $1.5B In Revenue In $22.5B Human Capital Software Market", "Kronos Employees Say Culture, Vision, and Innovation Drive Outstanding Engagement", "THE BIG THREE: MICROSOFT, SAP- AND KRONOS? [10], In 2014, private equity firms Blackstone and GIC invested in Kronos alongside Hellman & Friedman and JMI Equity. [11] This was the first year that the company achieved $1 billion in annual revenue. Aron Ain, longtime Kronos chief executive officer, will be the CEO and chairman of the combined company – guiding an experienced executive team comprised of leaders from both Ultimate and Kronos. Under Mark Ain's leadership, Kronos sustained one of the longest records of growth and profitability as a public company in software industry history. Former Kronos CEO Aron Ain is the CEO and chairman of the combined company. OK, Lowell-based Kronos merges with Ultimate Software, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). [13], In February 2020, the company announced a merger with Ultimate Software and that the combined company will be led by Aron Ain. Ain also said the company planned to primarily call itself UKG. Upon closing, the combined company will have revenues of approximately $3 billion, more than 12,000 employees worldwide, and an enterprise value of $22 billion, with further plans for growth including the addition of 3,000 employees over the next three years. Kronos Incorporated Salaries trends. The principal is Kronos Incorporated from Lowell MA. “Combining our passionate and extremely talented Kronos and Ultimate teams will create a company that is truly people-inspired. Our top priority as we complete this merger is to ensure a smooth transition for our people and continue to exceed our customers’ expectations.”. Kronos is a global provider of workforce management and human capital management cloud solutions. Ain. [14][15], In April 2020, as a response to the COVID-19 pandemic, Kronos introduced an automated report-generating tool to aid contact tracing. Kronos Incorporated is an American multinational workforce management and human capital management cloud provider headquartered in Lowell, Massachusetts, United States, which employs more than 6,000 people worldwide. ", "Aron Ain of Kronos: The Incalculable Value of a Good Boss", "Kronos(R) Announces Executive Succession Plan; Mark Ain to Become Executive Chairman; Aron Ain to Become Chief Executive Officer; Paul Lacy to Become President", "Today In Business - Buyout Deal For Kronos", "Third Circuit Enforces EEOC Subpoena Seeking Test-Maker's Files on Employee Selection Tests Used by Employer", "From Mill City to Innovation Hub: Relocating a Global Headquarters Outside Boston", "HCM giants Kronos and Ultimate Software merge", "Two Big Workplace-Software Providers to Merge", "Kronos introduces employee contact-tracing capability", "Kronos unveils contact tracing to track COVID-19 spread at work", "Kronos Incorporated Among Cloud Top 500 Software Vendors | Apps Run The World", "Kronos Acquires Financial Management Solutions Inc. to Deepen Financial Services Industry Expertise", "Kronos Acquires Public Safety Scheduling Leader PDSI and its TeleStaff Product", "Kronos Acquires Australian Workforce Solutions Business of Simplex International Pty. Just follow the money, Hoax call prompts large emergency response in Lowell, Five residents dead, several infected in COVID cluster at Chelmsford nursing home, Trump, Biden scrap on oil, virus with just over a week to go, Washington state discovers first ‘murder hornet’ nest in US, Police: Drug investigation leads to arrest, fentanyl seized in Pelham, This website uses cookies to improve your experience. Competitors include ADP, Ceridian, Microsoft, Oracle, SAP, and Workday. The Blackstone Group, which also owned stakes in both previous companies, is the largest minority investor with a 25–20 percent stake. Kronos Incorporated 3.8 Lowell, MA Develops, reviews performance test plans that define the scope, environment, strategy, scenarios, and metrics for performance testing of Kronos products. Kronos believes in taking an active approach to fully compensate and help our employees achieve a better work-life balance. [8], In 2012, the Third Circuit Court of Appeals enforced a subpoena seeking production of documents by Kronos, Inc., in an administrative charge before the EEOC alleging disability discrimination. Following H&F, private equity funds managed by Blackstone will be the largest minority investor, followed by GIC, Canada Pension Plan Investment Board (CPP Investments), and JMI Equity. This reflects both companies’ belief that people are at the core of an organization’s success, and that prioritizing the employee experience is the most effective way to help customers succeed. Kronos was founded 40 years ago on October 31 by MIT alum Mark Ain on the foundation that there had to be an easier way to record employee time. [7], In March 2007, Kronos went private again, bought out for US$1.74 billion by the lead investor Hellman & Friedman and the secondary investor JMI Equity. That’s why our LiveInspired initiatives reward employees through generous benefits and other perks that extend beyond compensation. Hellman & Friedman LLC (H&F), the controlling shareholder of both Kronos and Ultimate, will be the controlling shareholder of the newly formed company. The new company will bring together the best of each company’s award-winning solutions – Ultimate’s UltiPro HCM and Employee Experience products with Workforce Dimensions from Kronos, Kronos Workforce Ready, and other solutions from Kronos – with an unwavering commitment to delighting customers and exceeding their expectations. 17 Kronos Incorporated jobs in Lowell, MA. [2], On February 20, 2020, Ultimate Software and Kronos Incorporated announced that they had entered into a definitive merger agreement to form a new cloud computing venture specializing in workforce management and human capital management.

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