About six months ago, HCM giants Kronos and Ultimate Software announced they would merge in a record, industry-changing merger valued at $22 billion. Now, the two companies are unveiling the highly anticipated next steps of their joint venture.
Starting Oct. 1, the newly formed company will be called UKG, standing for Ultimate Kronos Group, the organization announced this week. Company CEO Aron Ain told HRE that the new tagline,
“Our purpose is people,” represents the spirit of “UKG’s unwavering commitment to our employees, their families, our customers and their people, our partners and our communities, while also incorporating both companies’ strong legacies into our new brand.”
The merger was announced just weeks before the coronavirus pandemic hit. The timing, Ain said, hasn’t stopped the two companies from forging ahead with the parntership.
“We’ve already done some magical work together since April, as we continue to navigate this pandemic and the unprecedented challenges it has brought to the world of work and our customers,” he said. “Despite these challenges, our people have shown incredible resilience as they continue to pave the way forward, inspiring our purpose each and every day.”
Both Ultimate and Kronos employees, customers and prospects were integral to developing the brand, Ain added.
“Every day, our people do what they do to improve the lives of the millions of people using our solutions,” Ain said in a company statement. “Our new brand represents the people-centric innovation, warmth and partnership our customers will experience with UKG products and services.”
The company will aim to “drive industry-leading productivity, visibility and workplace compliance” as well as support the increasingly diversified workforce, including gig and remote workers. That includes helping clients support employee engagement and leadership development, while providing data-driven workforce insights and strategies for developing people-centered programs.
UKG, expected to be one of the world’s largest cloud companies, will continue to offer the leading products from both HCM providers, including Workforce Dimensions, Workforce Ready, UltiPro HCM and HR service delivery solutions. Together, the two companies bring more than 70 years of experience in the industry.
When the news was announced earlier this year, industry analyst Jason Averbook told HRE that the merger “creates a juggernaut in the HCM technology market like never seen before.”
“These are two companies that have become wildly successful in creating strong foundations for HR to build upon, and now the whole can be greater than the sum of the parts,” he said.