Ultimate Software
| Company type | Public (until 2019) |
|---|---|
| Industry | Technology, Human capital management software |
| Founded | 1990 |
| Founder | Scott Scherr |
| Defunct | April 1, 2020 |
| Fate | Merged with Kronos Incorporated to form Ultimate Kronos Group |
| Headquarters | Weston, Florida , United States |
Area served | Worldwide (offices in United States, Canada, United Kingdom, Singapore) |
Key people | Scott Scherr (founder) |
| Products | UltiPro (cloud-based human capital management system) |
Number of employees | 5000+ (2017) |
Ultimate Software was a global technology firm from the United States that focused on delivering UltiPro, a cloud-hosted human capital management (HCM) solution designed for enterprises. Established in 1990 by Scott Scherr and based in Weston, Florida, the company introduced its initial software edition in 1993. By the fourth quarter of 2017, Ultimate Software had generated revenues surpassing $940 million, employed more than 5,000 individuals, and supported a client base of 4,100 organizations spanning 160 countries. Its operational presence included offices located in the United States, Canada, the United Kingdom, and Singapore.
On February 4, 2019, Hellman & Friedman Capital Partners revealed plans to acquire Ultimate Software for $11 billion, a deal finalized on May 3, 2019. Subsequently, in February 2020, Ultimate Software declared a merger with Kronos Incorporated, establishing a cloud-focused HR software leader valued at $22 billion. This merger was completed on April 1, 2020, resulting in the formation of the Ultimate Kronos Group.
History
Scott Scherr founded Ultimate Software in 1990. The company launched UltiPro HRMS/payroll as an on-premises solution for fundamental HR and payroll operations in 1993. It became publicly traded on NASDAQ under the ticker symbol ULTI in June 1998.
In 2002, UltiPro evolved into a cloud-delivered platform that provided an integrated human resources management system. This transformation allowed the company to handle over 33 million client records and support upwards of 3,400 customers. Ultimate Software also expanded its global footprint by opening offices in London and Singapore.
Products and services
UltiPro is a cloud-based human capital management system catering to various sectors. It consolidates HR, payroll, and talent management functionalities within a single system of record. Its capabilities encompass time and attendance tracking, employee onboarding, performance and compensation administration, succession planning, recruitment processes, and predictive analytics.