Hellman & Friedman-led group takes Ultimate Software private at ~$11B (2019)

In February 2019, Weston, FL–based HCM software company Ultimate Software agreed to be acquired by an investor group led by Hellman & Friedman for approximately $11 billion in cash ($331.50 per share). The take-private closed in May 2019. In 2020 Ultimate merged with Kronos to form UKG (Ultimate Kronos Group).

Ultimate Software provided cloud people-management / HCM solutions. The H&F-led consortium also included Blackstone, GIC, CPPIB, and JMI Equity. H&F still lists UKG on its live software portfolio — treat the Ultimate entity as the historical buyout record and UKG as the operating successor.

Source: Hellman & Friedman — Ultimate Software acquisition agreement: https://hf.com/ultimate-software-announces-agreement-to-be-acquired-by-an-investor-group-led-by-hellman-friedman/
Business Wire — Ultimate Software to be acquired (~$11B): https://www.businesswire.com/news/home/20190204005338/en