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Ultimate Software was an American-based technology company that eventually merged with Kronos Incorporated to form Ultimate Kronos Group. Scott Scherr is the founder of Ultimate Software, a company that is known for selling SaaS. The company sold UltiPro as its main product which is a cloud-based human capital management software. This SaaS product was sold to many enterprises by Ultimate Software. Founded in 1990, the company’s headquarters are based in Weston, Florida. Ultimate Software officially launched its first product in 1993. Last year, the company ranked second in the Fortune 100 Best Companies to Work For list. Ultimate Software is mainly known for its SaaS product, UltiPro, a single cloud-based system for recording HR, payroll, and talent management. Eventually, the software added many new features like employee onboarding, attendance maintaining, performance and compensation management, recruiting, etc. The rollout of UltiPro was a big success for Ultimate Software as in 2017 it generated a revenue of $940.7 million in the fourth quarter. Before it was merged with Kronos Incorporated, the company had more than 5,000 employees providing services in 160 countries. In 2019, Ultimate Software came under the acquisition of Hellman & Friedman Capital Partners for $11 billion. One year later, the company further merged with Kronos. The newly merged company is called Ultimate Kronos Group and is led by the CEO of Kronos Incorporated, Aron Ain. Image source: wikimedia.orgHistory of Ultimate SoftwareThough Ultimate Software was established in 1990, the company launched its first product, UltiPro, after three years. After rolling out the first version of this SaaS software for better business management, the company kept improving the product by adding more features and optimizing it. In 1993, when UltiPro was launched for the first time, it was an on-premise software mainly for core HR and payroll. In 2002, the same product was launched as SaaS to provide HRs with a unified management tool. The company went public in 1998 and was listed on NASDAQ as ULTI. After UltiPro was launched as SaaS, the total customers of the company exceeded 3,000 businesses over a small time span. The company eventually decided to expand overseas, and thus opened offices in London and Singapore. In 2014, the company partnered with the Center for Generational Kinetics to study the behavior of different generations in a workforce. About Kronos IncorporatedKronos Incorporated is an American multinational conglomerate founded in 1977 by Mark S. Ain. The company specializes in workforce and human capital management cloud platforms. Kronos Incorporated is currently owned by Hellman & Friedman and its headquarters is located in Lowell, Massachusetts. In 1979, Kronos rolled out its first product which was the world’s first microprocessor-based time clock, and a few years later launched a PC-based time and attendance product. Kronos became a publicly-traded company in 1992 and Aron Ain, brother of Mark Ain took over the charge of the company in 2005. Before the merger of Kronos and Ultimate Software, the former has acquired many other companies including Principal Decision Systems International, Stromberg, Empower Software

Good of themselves, their company, and their communities. Our love for all things HR and workforce management is matched only by our people-centered culture,” said Ain. “Every day, our people do what they do to improve the lives of the millions of people using our solutions. Our new brand represents the people-centric innovation, warmth, and partnership our customers will experience with UKG products and services. Since our purpose is people, feedback from our own employees, customers, and prospects was the biggest driver in the decisions we made about our new brand.”UKG will continue to bring together the best of each company’s award-winning solutions—including Workforce Dimensions, Workforce Ready, and UltiPro HCM and HR service delivery solutions—with an unwavering commitment to the employee experience and exceeding customer expectations.About Kronos IncorporatedKronos is a leading provider of workforce management and human capital management (HCM) cloud solutions. Kronos industry-centric workforce applications are purpose-built for businesses, healthcare providers, educational institutions, and government agencies of all sizes. Tens of thousands of organizations—including half of the Fortune 1000—and more than 40 million people in over 100 countries use Kronos every day. Kronos merged with Ultimate Software on April 1, 2020, to create one of the world’s most innovative HCM and workforce management companies. Visit www.kronos.com. Kronos: Workforce Innovation That Works.About Ultimate SoftwareUltimate Software is a leading global provider of cloud human capital management (HCM) and employee experience solutions, with more than 51 million people records in the cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, and time and labor management, as well as HR service delivery solutions. Founded in 1990, Ultimate is headquartered in Weston, Florida, and employs more than 6,000 professionals. To learn more, visit www.ultimatesoftware.com. Ultimate Software: People First. Beginning on October 1, 2020, Kronos and Ultimate together will be known as UKG.

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