The human capital management (HCM) technology market is a hotbed of M&A activity, so to anyone who follows it, this merger shouldn’t be a huge surprise. In fact, when private equity firm Hellman & Friedman acquired Ultimate Software around this time last year, the writing was on the wall. Kronos had already been taken private by Hellman & Friedman in 2007. Aron Ain, Kronos’ venerable CEO since 2005 and 40-year Kronos employee, will serve as the CEO of “NewCo” — the name of the combined company is TBD and will be released around deal closure, which is expected by the end of March. Key takeaways:
Naturally, this is the very early days of the merger. Stay in touch as this unfolds. 2020 is shaping up to be yet another dynamic year for the future of work and HCM technology. In other news, Betterworks acquired Hyphen, WorkJam acquired Forge, and iCIMS named former Marketo and SAP executive Steve Lucas as CEO. Welcome to the Roaring 20s.
The original article by Mark Brandau, principal analyst at Forrester, is here. The views and opinions expressed in this article are those of the author and do not necessarily reflect those of HR&DigitalTrends. Photo credit: iStockphoto/AndreyPopov