A one slide summary as the merger between Kronos and Ultimate Software unfolds... as of February 20th 2020.

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Market Move – Kronos & Ultimate Merge
MyPOV: If it was a race, Kronos out product developed Ultimate. H&F
no longer willing to double CAPEX for R&D. Much more synergies
down the road then now mentioned. Expect 1 suite in 2-3 years.
The long rumored, merger of Hellman & Friedman properties has
happened on 2/20/2020 (someone has a knack for dates here).
Key Takeaways
• Kronos CEO Aron Ain to lead combination, HQs remain in place
• Investment ambitions – 3k+ employees to add, 6B+ revenue target
• No direct change in product portfolio, Kronos to replace Infor 4 WfM
• Product leadership across three leaders for Kronos Dimensions
(Welsh), Ready (Del Ponte) and Ultimate (Machado).