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by Chris Chiappinelli, MA Editorial Staff
Posted on Monday, March 26, 2007 5:43:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Ending its tenure as a public company, workforce management vendor accepts offer to be acquired by a private equity firm. |
| Keywords: | Kronos, acquisition, private equity, Hellman & Friedman, workforce management, human capital management, HCM, JMI Equity |
Workforce management software provider Kronos, Inc. announced late last week that it is going private after accepting an acquisition offer worth nearly $1.8 billion from equity firm Hellman & Friedman Capital Partners VI, LP. Founded in 1977, Kronos makes software that helps companies in manufacturing, retail, and transportation manage their workforces through tools such as payroll, time and attendance tracking, scheduling, and talent assessment. The company's flagship product line is known as the Workforce Central suite. Kronos also has a version of the suite for the IBM System i computer. In its fiscal year ended Sept. 30, 2006, Kronos had $578 million in revenue and GAAP net income of $41.4 million. [Click to continue] |
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