[August 19, 2015] |
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Kronos Signs Agreement to Acquire AutoTime Business From Kaba Workforce Solutions
Kronos
Incorporated today announced that it has entered into a definitive
agreement to acquire the AutoTime® business from Kaba
Workforce Solutions, LLC - the North American operating subsidiary of
Switzerland-based Kaba Holding AG (SWISS: KABN). Closing of the
transaction is subject to customary closing conditions.
News Facts
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AutoTime, a time and attendance and labor management solution, is used
by more than 100 organizations, including seven of the top 10 Fortune
500 aerospace and defense companies with operations in countries such
as Austria, Canada, Dubai, France, India, the Netherlands, Saudi
Arabia, Singapore, Spain, the UK, and U.S. Once the transaction
closes, these organizations will be Kronos (News - Alert) customers.
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Organizations around the globe use AutoTime to increase operational
efficiencies by tracking product costs, viewing work-in-progress, and
measuring employee performance. For aerospace and defense
manufacturers, real-time labor data collection and analysis is
essential for measuring profitability of jobs and pinpointing
unplanned labor costs. Addressing these needs, AutoTime offers
real-time labor data visibility to support key metrics for these
sectors including productivity, efficiency, and throughput.
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Ultimately, by offering solutions that help optimize efficiencies
while allowing employees to have more visibility and control over
their time worked, schedules, and time-off requests, AutoTime helps
organizations enhance both productivity and employee engagement. This
aligns with Kronos' vision of developing the workforce into a
competitive advantage, which benefits employees, customers, and
business bottom line.
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Upon closing of the transaction, Kronos will continue to support the
acquired customers through a dedicated team of AutoTime employees, and
AutoTime customers will have access to a comprehensive array of Kronos
workforce management solutions.
Supporting Quotes
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Aron Ain, chief executive officer, Kronos
"We look forward
to welcoming AutoTime customers to the Kronos customer community.
Managing an organization's most valuable asset - the workforce - is
incredibly complex, particularly for multinational organizations that
must comply with a broad range of regulations, which vary by country.
Kronos has a long history in managing deployments across more than100
countries. Upon closure of the transaction, we will leverage our
global expertise, as well as our expertise in key vertical sectors, to
help AutoTime customers achieve further success."
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Richard Souders, president and chief operating officer, Kaba
Workforce Solutions, LLC
"Our AutoTime customers will be in
great hands with Kronos, the global leader in workforce management. We
are pleased that Kronos has agreed to acquire the AutoTime business
and we are also excited about what the future will hold for AutoTime
as it becomes part of the Kronos customer community."
Supporting Resources
About Kronos Incorporated Kronos is the global leader in
delivering workforce management solutions in the cloud. Tens of
thousands of organizations in more than 100 countries - including more
than half of the Fortune 1000® - use Kronos to control labor
costs, minimize compliance risk, and improve workforce productivity.
Learn more about Kronos industry-specific time and attendance,
scheduling, absence management, HR and payroll, hiring, and labor
analytics applications at www.kronos.com.
Kronos: Workforce Innovation That Works™.
About Kaba Kaba - Beyond security With its
innovative products, systems and services, globally active technology
group Kaba is a leading provider of high quality access management
solutions, keys, cylinders, physical access systems, enterprise data and
time recording, and hotel access systems. The group is also a global
market leader for high security locks, key blanks, transponder keys and
key manufacturing machines. The stock exchange-listed group (KABN and
KABNE) employs around 9,000 people in more than 60 countries. For more
than 150 years Kaba has set trends in security and beyond in terms of
functionality, convenience and design - and always with a focus on
optimum value to customers.
© 2015 Kronos Incorporated. All rights reserved. Kronos and the Kronos
logo are registered trademarks and Workforce Innovation That Works is a
trademark of Kronos Incorporated or a related company. See a complete
list of Kronos
trademarks. All other trademarks, if any, are property of their
respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150819005724/en/
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