Hellman & Friedman-led Investor Group to Acquire Ultimate Software
February 4, 2019
An investor group led by Hellman & Friedman, with participation from Blackstone, GIC, Canada Pension Plan Investment Board (CPPIB), and JMI Equity, agreed to acquire Ultimate Software in an all-cash transaction valuing the company at approximately $11 billion. Ultimate Software, a cloud-based human capital management (HCM) software provider headquartered in Weston, Florida, will become privately held and continue to operate under CEO Scott Scherr with plans for further product and service investment.
- Buyers
- Hellman & Friedman, Blackstone, GIC, Canada Pension Plan Investment Board (CPPIB), JMI Equity
- Targets
- Ultimate Software
- Sellers
- Ultimate Software stockholders
- Industry
- Cloud & SaaS
- Location
- Florida, United States
- Transaction Type
- Buyout
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