Ultimate Software

Ultimate Software Group, Inc.
Company typePrivate
IndustrySaaS HCM Software
Founded1990; 34 years ago (1990)[1]
FounderScott Scherr
DefunctApril 1, 2020
FateMerged with Kronos Incorporated
SuccessorUltimate Kronos Group
HeadquartersWeston, Florida
Area served
  • United States
  • Canada
Key people
Aron Ain (CEO)
Products
  • Human Resources
  • Payroll
  • Recruiting
  • Onboarding
  • Talent Management
  • Time Management
  • Global HCM
Services
  • Managed Services
  • Payment Services
  • Print Services
  • Check Printing
Revenue$940.1 million (2017) [2]
OwnerHellman & Friedman
Number of employees
5,144 (2019)
Websitewww.ultimatesoftware.com

Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and it released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million.[3] As of 2017, the company employs more than 5,000 people and services 4,100 customers in 160 countries.[4] Ultimate had offices around the U.S., Canada, UK, and Singapore.[5] On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion;[6] the purchase closed on May 3, 2019.

In February 2020, Ultimate Software announced its plan to merge with Kronos Incorporated to form a cloud-computing venture specializing in human resource software. The merger was completed on April 1, 2020. The company is named Ultimate Kronos Group.[7][8]

  1. ^ "HR Software Solutions & Payroll for Human Capital Management - Ultimate Software". Retrieved 22 April 2016.
  2. ^ "The Ultimate Software Group (ULTI) Q4 2017 Results - Earnings Call Transcript". Seeking Alpha. 2018-02-06. Retrieved 2017-04-23.
  3. ^ "The Ultimate Software Group (ULTI) Q4 2017 Results - Earnings Call Transcript". The Ultimate Software Group (ULTI) Q4 2017 Results - Earnings Call Transcript. Seeking Alpha. 6 February 2018. Retrieved 2018-02-06.
  4. ^ "Working at Ultimate Software". Glassdoor. Retrieved 2015-09-25.
  5. ^ "Ultimate Software - Contact an Ultimate Software Representative, Your Source for HRIS". www.ultimatesoftware.com. Retrieved 2015-09-25.
  6. ^ "Ultimate Software to Go Private in $11 Billion Cash Deal". Bloomberg. 4 February 2019. Retrieved 2019-02-04.
  7. ^ "Welcome to Ultimate Kronos Group". Ultimate Kronos Group. August 2020. Retrieved 2020-08-28.
  8. ^ Payne, Emily (February 24, 2020). "Kronos, Ultimate Software announce merger". BenefitsPRO. Retrieved 2020-02-28.