Kronos® Extends Market Leadership into Europe with
Acquisition of Captor
Marks significant milestone in execution of Kronos' global expansion strategy
CHELMSFORD, Mass., June 13, 2007 — Extending its market leadership into Europe, Kronos® Incorporated today announced it has acquired privately held Captor. With headquarters in Belgium, Captor is a provider of workforce management solutions serving customers throughout Europe. Kronos' acquisition of Captor brings together two market leaders with a shared vision to help organizations around the globe effectively manage their workforce.
The transaction marks a significant milestone in the execution of Kronos' global expansion strategy, providing Kronos with an even stronger European foundation. This enables Kronos to meet the growing demand as multinational organizations increasingly turn to the company to manage their global workforce. Kronos' acquisition of Captor also enables the company to better address the needs of existing local and multinational customers in the complex European workforce management market.
"Acquiring Captor gives Kronos outstanding European domain expertise and an established market presence in key geographies," said Aron Ain, Kronos chief executive officer. "By adding Captor's customer base, representing multi-lingual, multi-country, and multi-sector deployments, this acquisition paves the way for Kronos to establish a firm leadership position throughout Europe."
Listen to Ain's podcast discussion about the acquisition as it relates to Kronos' global expansion strategy: http://www.kronos.com/About/Captor.wma.
The Captor solution is deployed in more than 2,000 organizations, with installations in countries such as France, Belgium, Germany, Italy, Luxemburg, the Netherlands, Norway, Portugal, Romania, Spain, and Sweden, and the UK. Customers include Arcelor, Banksys, Conseil Général de la Moselle, Département de l'Eure, Gucci, Leclerc, Leolux, Ministère de l'Economie et des Finances, Pepsico, Société Générale, Total Gaz, Tropicana, and Volkswagen.
Founded in 1987, Captor began as a provider of data collection terminals, and then expanded into access control devices and time management terminals. Realizing the market's need for workforce management software, Captor developed a time management and access control software offering, and has expanded this into a comprehensive workforce management suite including applications for time and attendance, absence management, and scheduling. Today, Captor is a leading European provider of workforce management solutions.
"Kronos shares Captor's unwavering focus on customer service excellence. To that end, Kronos is committed to investing the resources required to support Captor's well-established community of customers," said Jean de Crane, general manager of Kronos' Western Europe operations and former chief executive officer of Captor. "We have pooled our collective expertise to form a solid platform on which to continue execution of Kronos' global expansion strategy."
Financial terms of the agreement were not disclosed.
About Kronos Incorporated
Kronos Incorporated empowers organizations around the world to effectively manage their workforce. At Kronos, we are experts who are solely focused on delivering software and services that enable organizations to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. Kronos serves customers in more than 50 countries through its network of offices, subsidiaries, and distributors. Widely recognized as a market and thought leader in managing the workforce, Kronos has unrivaled reach with more than 30 million people using a Kronos solution every day. Learn more about Kronos at www.kronos.com.
