Kronos, a prominent company renowned for its workforce management and human capital management solutions, is now part of UKG (Ultimate Kronos Group), following a significant merger that took place in 2020.
This transformation resulted from the strategic combination of two industry leaders: Kronos Incorporated and Ultimate Software. Both were recognized as "legacy companies" in the HR and workforce technology space, bringing together their distinct strengths to form a unified entity that aims to provide a comprehensive suite of solutions for organizations worldwide.
The Formation of UKG
The merger created one of the largest cloud companies globally, specializing in human capital management (HCM) solutions. UKG now offers a wide range of services, including:
- Human Resources (HR) and Payroll: Streamlining core HR functions and ensuring accurate, compliant payroll processing.
- Workforce Management: Optimizing employee scheduling, time and attendance, and labor forecasting.
- Talent Management: Supporting recruitment, onboarding, performance management, and learning and development.
This strategic alignment allowed the new company to leverage the best of both former entities, enhancing product offerings, expanding market reach, and providing deeper expertise to its customers.
Understanding the Merger
The table below illustrates how Kronos integrated into the new corporate structure:
| Legacy Company 1 | Legacy Company 2 | Resulting Entity | Merger Year |
|---|---|---|---|
| Kronos Inc. | Ultimate Software | UKG (Ultimate Kronos Group) | 2020 |
This merger marked a pivotal moment in the HR technology industry, solidifying UKG's position as a leader in delivering innovative cloud solutions for managing people and workplaces. You can learn more about UKG and its heritage by visiting their official website: www.ukg.com.
