Kronos Acquires Stromberg from Paychex

CHELMSFORD, Mass., Oct. 14, 2009 – Further extending its leadership in workforce management, MM Hayes’ partner Kronos Inc. today announced that it has acquired the assets of time and attendance software vendor Stromberg from Paychex, Inc. (Nasdaq: PAYX) in a cash transaction.

News Facts

• Stromberg, headquartered in Orlando, Fla., was founded in 1989 and purchased by Paychex in 2004. The company operated as a standalone division within Paychex with its own sales, support and development teams.
• Stromberg’s 1400 customers mainly include U.S.-based organization in industries such as retail, hospitality, and not-for-profit. Customers include A&P Supermarkets, Bacardi Bottling, Cambridge Quality Care, Hillsborough Country School District, Hudson Bookstores, Office Depot, PetCo, and Universal Studios. Stromberg was primarily a mid-market vendor, delivering time and attendance software to organizations with 250-1,500 employees.
• The acquisition extends Kronos’ leadership in workforce management and further strengthens Kronos’ position in the mid-market. It also complements the company’s strengths in a broad range of vertical markets
• Kronos will continue to support the acquired customers through a dedicated team of Stromberg employees based in Orlando, Fla.