Announced
Completed
Financials
Sources
Press release
Ultimate Software -
Press release
Ultimate Software -
Press release
Hellman & Friedman -
Agreement and plan of merger
Ultimate Software -
Form 8-K
Ultimate Software -
Press release
CPPIB -
Press release
Ultimate Software -
Amendment to rights agreement
Ultimate Software -
Press release
Ultimate Software -
Tags
software development
human capital management
Public
Acquisition
United States
Private Equity
Completed
Software
Friendly
Single Bidder
Majority
Synopsis
Investor group led by Hellman & Friedman completed the acquisition of Ultimate Software, a global provider of human capital management solutions in the cloud, for $11bn in an all-cash transaction valued at $331.50 per share. This price represents a premium of approximately 32% over Ultimate’s volume-weighted average price during the 30 trading days ending February 1, 2019. “The transaction provides our stockholders with a substantial premium. Our decision was also made with the best interests of our 5.1k employees and our more than 5.6k customers at heart. This change will bring meaningful benefits to our employees and customers — both in the long and short terms. Since all of our employees are given equity in Ultimate when they join us, as stockholders, this transaction will result in immediate financial upside for them. Today’s announcement will also allow us to make additional, prudent investments in our products and services to better serve our customers,” Scott Scherr, Ultimate CEO, president and founder.
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