WESTON, Fla. (AP) — A Florida software company is being purchased by a California private equity firm for $11 billion.
The South Florida Sun Sentinel reports that Ultimate Software announced Monday that it's being purchased by San Francisco-based Hellman & Friedman. Ultimate will continue operation under its founder and CEO, Scott Scherr.
The 29-year-old company is based in a Fort Lauderdale suburb and provides human resources and payroll software for such companies as Subway, Red Roof Inn and Yamaha Corp. of America. It has about 5,000 employees and Fortune magazine has rated it the country's top tech employer four years in a row.
Scherr says the sale will allow the company to provide new services and continue its expansion. The sale is expected to make some longtime employees millionaires through their stock ownership.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
