If you haven’t seen this – we wanted to share the big news in HR Tech!
According to the Wall Street Journal, which was reported this morning, Kronos and Ultimate Software plan to merge. A formal press release was posted on Businesswire later in the morning by the two entities. Per reports, this would create a company worth upwards of $22 Billion.
Ultimate and Kronos are two of the leading HCM vendors in the market, focused on different parts of the HR Technology market. Ultimate is an upmarket HCM provider, servicing the 500+ client size range, that is known for their robust reporting and scalability. Kronos has been targeting small to mid-market clients – and is known for their robust timekeeping and scheduling capabilities.
From Jamie Hawkins, BTR Founder and CEO
This was no surprise to the BTR team and has been speculated for months since Ultimate went private. The interesting thing is they both use PlanSource as their Benefits Administration platform when a client needs more than a bare-bones basic benefits module. It will be interesting to see how this partnership plays out, and how the new company will evolve the market.
BTR will stay updated on the merger as we learn more – but in the meantime, be sure you are letting your clients know BTR has extensive experience with both solutions for HCM, and their Benefits Administration modules, including their respective PlanSource offerings. Our Ben Admin Division can deploy PlanSource for a seamless integration into either of the solutions as well. We are your leading resource for all things HR Tech, and will continue to update on this merger and other breaking news in the market.