Kronos acquires Stromberg from Paychex

Kronos, a provider of workforce management solutions, has acquired the assets of time and attendance software vendor Stromberg from Paychex, in a cash transaction.

The acquisition reportedly extends Kronos's expertise in workforce management, further strengthens Kronos position in the mid-market, and complements the company's strengths in a range of vertical markets. Kronos will continue to support the acquired customers through a dedicated team of Stromberg employees.

Stromberg was founded in 1989 and was purchased by Paychex in 2004. The company operated as a standalone division within Paychex with its own sales, support, and development teams.

Stromberg's 1,400 customers mainly include US-based organizations in industries such as retail, hospitality, and not-for-profit. Customers include A&P Supermarkets, Bacardi Bottling, Cambridge Quality Care, Hillsborough County School District, Hudson Bookstores, Office Depot, PetCo, and Universal Studios. Stromberg was a mid-market vendor, delivering time and attendance software to organizations with 250-1,500 employees.

Aron Ain, CEO of Kronos, said: "Kronos has a long history of financial stability and sustainable growth, which allows us to continually invest in product and services innovation for our customers. We welcome Stromberg customers to the Kronos customer community. We are committed to helping these organizations achieve even greater value in the areas of controlling labor costs, minimizing compliance risk, and improving workforce productivity."

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