“You want a piece of me?”
I do realize my pop culture references from the realm of television are nearly as old as Jerry Stiller, but they work for me, and I always post a link to give them some context for you non-boomers. So, “You want a piece of me?”
Apparently, Blackstone Group and Singapore sovereign wealth fund GIC wanted a piece of Kronos, and last week, thestreet.com nailed the best headline for the story with Private Equity Owners Not Ready to Punch Out of Kronos. Get it? “Punch out?” Anyway, Blackstone and GIC’s investment gives them about 42% ownership of my employer, with Hellman & Friedman and JMI Equity maintaining majority interest. Based on the story, it appears investor interest in Kronos increased “as it pushes towards $1 billion in annual revenue and continues to see growth in its cloud-based human resources solutions.” Yep. The cloud. It’s catching on.
So what does this mean to yours truly and some 3,500 of my co-workers? Well, in an internal video, the boss says that since Blackstone and GIC are global organizations, it will help us as we continue to expand globally. As for the status of the Kronos management team, Aron smiled and quipped, “Yep, you’re still stuck with us.” That’s good news for all of us. (Work)Joyce emailed all of her team, and echoed Aron’s positive message, writing, “We just keep doing what we’re doing to create happy customers and thereby happy investors.”
Yep. That’s all there is to it.