Products July 13, 2006

Kronos To Acquire Unicru for $150M

July 13, 2006 (PLANSPONSOR.com) - Kronos, Inc., which offers software and services to help companies manage their workforce, agreed to purchase talent management solutions provider, Unicru, for $150 million in cash.

Reported by

Adrien Martin

According to a release, Kronos’ acquisition of Oregon-based Unicru is supposed to close in the fourth quarter of Kronos’ Fiscal 2006, but the company is still waiting on regulatory approval to close the deal.

“Kronos views this strategic acquisition as fundamentally changing the landscape of workforce management, bringing together tremendous expertise – people, products and technology – which we believe will further bolster our leadership in the broader human capital management market,” said Aron Ain, Kronos CEO, in a release.

Unicru, which is expected to generate total revenue of about $50 million in Fiscal 2007, offers talent management solutions that integrate hiring automation, employee selection programs and performance analytics. Companies such as SuperValu, Kroger, Toys “R” Us, Best Buy, CVS, Borders, Lowe’s, Marriott, Uno’s Restaurants, Caribou Coffee and Marquis Healthcare use the product, according to the release.

“Acquiring Unicru greatly broadens the playing field for Kronos and offers the customers of both organizations the benefits of a combined workforce acquisition and workforce management solution to optimize workforce performance,” said Chris Marsh, president and CEO of Unicru, in a release.

Upon completion of the acquisition, Unicru will operate as Kronos’ Talent Management Division, headquartered in Beaverton, Oregon.