UKG
| Company type | Private |
|---|---|
| Industry | Technology, Human resource management software, Cloud computing |
| Predecessor | Ultimate Software, Kronos Incorporated |
| Founded | April 1, 2020 in Lowell, Massachusetts and Weston, Florida, United States |
| Headquarters | Lowell, Massachusetts and Weston, Florida , United States |
Area served | Worldwide |
Key people | Jennifer Morgan (CEO, since July 2024), Christopher Todd (CEO until July 2024), Aron Ain (Executive Chairperson) |
| Products | UKG Pro Suite, UKG Ready Suite, UKG HR Service Delivery, UKG Virtual Roster, UKG OneView |
| Owner | Hellman & Friedman (majority), Blackstone (20-25%), GIC, Canada Pension Plan Investment Board, JMI Equity |
Number of employees | Over 12,000 (2020) |
| Website | www |
UKG is a United States-based multinational corporation specializing in technology with dual main offices located in Lowell, Massachusetts and Weston, Florida. The company delivers solutions in workforce management and human resource management. The acronym UKG represents Ultimate Kronos Group.
History
The inception of UKG dates back to April 2020, emerging from the consolidation of Ultimate Software and Kronos Incorporated. Aron Ain, previously CEO of Kronos, initially took on the roles of CEO and chairman until July 1, 2022, after which he transitioned to Executive Chairperson.
On February 20, 2020, Ultimate Software and Kronos revealed their intention to merge into a cloud computing enterprise focused on workforce and human capital management. Valued at $22 billion, this union created one of the largest cloud computing companies globally, employing over 12,000 staff members and maintaining headquarters in both Lowell, Massachusetts, and Weston, Florida. The merger finalized on April 1, 2020, with the brand Ultimate Kronos Group (UKG) becoming official on October 1. UKG quickly positioned itself as a premier HR technology provider alongside industry peers such as ADP, Ceridian, Taleo, SuccessFactors, Zoho Corporation, and Workday.
Throughout 2021 and 2022, UKG prioritized diversity and inclusion by appointing key executives and launching strategic initiatives. In May 2021, Brian Reaves was named Chief Belonging, Diversity, and Equity Officer. Later that year in December, the company introduced its $3 million Close the Gap Initiative, aimed at addressing wage disparities affecting women and people of color within the U.S. labor market. July 2022 saw Christopher Todd take over as CEO from Aron Ain, who then assumed the role of executive chairman.
In July 2024, UKG announced Jennifer Morgan—formerly Co-CEO of SAP—as its new CEO. Concurrently, the organization reduced its global workforce by roughly 2,250 employees, representing about 14%, as part of corporate restructuring efforts. During this period, an inadvertent premature email was sent to affected employees detailing laptop return procedures.
NWSL Challenge Cup
In 2023, UKG became a sponsor for the National Women's Soccer League’s annual tournament—the NWSL Challenge Cup—offering a $1 million prize.
Acquisitions
UKG originated from the April 2020 merger between Ultimate Software and Kronos Incorporated. In June 2021, UKG expanded by acquiring EverythingBenefits, a cloud platform that connects employers with insurance, retirement plans, and other services. This acquisition strengthened UKG’s payroll processing, HR service delivery, and workforce management offerings.
On September 1, 2021, UKG acquired Great Place to Work® Inc., recognized for producing the Fortune 100 Best Companies to Work For rankings. Later that year in December, UKG purchased Ascentis Corporation, a provider specializing in midmarket HCM and time management solutions.
February 2022 marked two significant acquisitions: SpotCues—a platform for employee engagement—was integrated and rebranded as UKG Talk, which reached over one million users by July 2023; simultaneously, UKG entered the Caribbean market by acquiring Interboro Systems Corporation based in Puerto Rico. In November 2022, UKG further broadened its portfolio by acquiring Quorbit, a company focused on strategic workforce planning software headquartered in Oxford.
In June 2023, UKG acquired Immedis—a global payroll technology firm headquartered in Ireland—for more than €550 million. Relaunched under the name UKG OneView, this platform specializes in managing multinational workforces with integrated payroll, tax compliance, and funding solutions.
Workforce—Institute and Activity Report
Founded in 2007, the Workforce Institute functions as the organization's research hub and strategic think tank, delivering expertise on Human Capital Management subjects including optimizing workplace environments, leveraging analytical methodologies, and facilitating disability accommodations. It regularly conducts surveys and releases yearly analyses on global employment patterns. The Workforce Activity Report, which assesses shift work data collected from over four million employees spanning more than 35,000 U.S. companies, is published weekly ahead of the Bureau of Labor Statistics Employment Situation Report. This report is frequently referenced by media outlets and governmental agencies.
Ransomware attack
In December 2021, UKG revealed that a ransomware incident had been identified on December 11, affecting its Kronos Private Cloud platform utilized by prominent clients such as Boots, Gap Inc., Marriott International, PepsiCo, Samsung, Tesla, Inc., along with various government bodies including Cleveland and the New York Metropolitan Transportation Authority. Although some sources suggested a connection to the Log4Shell zero-day vulnerability, UKG confirmed no evidence linked Log4Shell to this security breach. The cyberattack caused significant interruptions to payroll and workforce management operations for impacted organizations over several weeks.
Ownership
The private equity firm Hellman & Friedman, which holds controlling interests in both Ultimate and Kronos, continues to be the majority stakeholder in UKG. Blackstone, previously an investor in both companies, remains the largest minority shareholder with ownership ranging between 20% and 25%. Additional minority stakeholders include Singapore’s GIC, the Canada Pension Plan Investment Board, and JMI Equity.
Products and services
- UKG Pro Suite
- UKG Ready Suite
- UKG HR Service Delivery
- UKG Virtual Roster
- UKG OneView
Awards and recognition
- America's Greatest Workplaces 2023
- America's Most Innovative Companies 2023
External links
- Articles with short description
- 2020 establishments in Florida
- 2020 establishments in Massachusetts
- American companies established in 2020
- Cloud computing providers
- Companies based in Broward County, Florida
- Weston, Florida
- Companies based in Lowell, Massachusetts
- Human resource management software
- Multinational companies headquartered in the United States
- Private equity portfolio companies
- Privately held companies based in Florida
- Privately held companies based in Massachusetts
- Software companies based in Florida
- Software companies based in Massachusetts
- Software companies established in 2020
- Software companies of the United States