Kronos to Buy Unicru to Add Hiring Management to Solution Mix
CHELMSFORD, Mass. -- Workforce management software vendor Kronos Inc. yesterday said it agreed to acquire Portland, Ore.-based Unicru, Inc., a provider of hiring management solutions for $150 million in cash.
Kronos said acquiring Unicru will enable IT to integrate employee selection strategy with actual labor performance and tie labor planning to sourcing and hiring. The acquisition is expected to close in the fourth quarter of Kronos' Fiscal 2006.
"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 c.e.o. "Importantly, this acquisition moves us significantly 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."
Unicru provides on-demand talent management solutions focused on improving workforce quality and productivity with solutions designed to integrate hiring management, selection science, and workforce analytics in a continuous improvement model. Unicru is currently deployed in more than 29,000 hiring locations nationwide for over 140 companies and brands, including SuperValu, Kroger, Toys "R" Us, Best Buy, CVS, Borders, Lowe's, and Marriott.
Upon completion of the acquisition, Unicru will operate as Kronos' Talent Management Division, headquartered in Beaverton, Ore. Chris Marsh will join Kronos as division president to lead the division.
Kronos said acquiring Unicru will enable IT to integrate employee selection strategy with actual labor performance and tie labor planning to sourcing and hiring. The acquisition is expected to close in the fourth quarter of Kronos' Fiscal 2006.
"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 c.e.o. "Importantly, this acquisition moves us significantly 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."
Unicru provides on-demand talent management solutions focused on improving workforce quality and productivity with solutions designed to integrate hiring management, selection science, and workforce analytics in a continuous improvement model. Unicru is currently deployed in more than 29,000 hiring locations nationwide for over 140 companies and brands, including SuperValu, Kroger, Toys "R" Us, Best Buy, CVS, Borders, Lowe's, and Marriott.
Upon completion of the acquisition, Unicru will operate as Kronos' Talent Management Division, headquartered in Beaverton, Ore. Chris Marsh will join Kronos as division president to lead the division.