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STRATEGY > BUSINESS ALIGNMENT
STRATEGY > KNOWLEDGE/COMPETENCY
Kronos Announces Agreement to Acquire Unicru
CHELMSFORD, Mass.—July 13, 2006—Kronos has announced a definitive agreement to acquire privately held Unicru, a provider of talent management solutions, for approximately $150 million in cash. The acquisition reportedly is expected to close in the fourth quarter of Kronos’s fiscal 2006.
Acquiring Unicru marks a significant milestone in the execution of Kronos’s strategy to broaden its offerings in human capital management. “This acquisition moves us closer to our goal of becoming the first $1 billion software company focused exclusively on meeting the human capital management needs of both large enterprises and small and medium-size organizations on a worldwide basis,” said Aron Ain, Kronos chief executive, in the announcement.
“Kronos has taken a step toward a holistic HCM approach—helping companies acquire, manage, and measure employees in a single application and workflow,” said Added Rob Garf of AMR Research, in the announcement. “Its demand-driven workforce management message is strides ahead now with Unicru, as it has the tools to respond to demand for new workers.”
Upon completion of the acquisition, Unicru reportedly will operate as Kronos’s talent management division, headquartered in Beaverton, Ore. Chris Marsh will join Kronos as division president.
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