Hellman & Friedman-led consortium completed the acquisition of Ultimate Software for $11bn.

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.