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  • Kronos Expands Further into Gaming with TimeWorks, Compu-Cash Acquisitions

    January 23, 2006 Timothy Prickett Morgan

    Einstein didn’t prove that time is money, but if he had been working on Wall Street instead of a patent office in Berlin, he might have. Perhaps no software vendor understands that time is money better than Kronos, which practically owns the market for time-keeping and related employee management software. Last week, Kronos extended its control over the market by making two more acquisitions, this time relating to workforce management in the gaming industry.

    Kronos is a publicly traded company that is headquartered in Chelmsford, Massachusetts, and has over 2,900 employees. It was founded in 1977 and has grown both organically and through acquisitions to reach $519 million in sales during its fiscal 2005 year. The company’s two latest acquisitions will bolster its position in the timekeeping and workforce management even further. Kronos paid an unspecified amount of cash to acquire TimeWorks , a competitor with a niche specialization in time and labor software for the gaming industry–software that runs on the iSeries. The software is used by some of the biggest casinos in the world and is also popular among tribal and smaller independently owned casinos. Kronos has an iSeries workforce management solution, called Kronos iSeries Central, which was just upgraded two weeks ago, and has invested heavily in biometric and scheduling technologies, which were not available in the TimeWorks solution.

    Kronos also announced that it has acquired assets from Compu-Cash Systems, a former Kronos distributor in Arizona and southern Nevada, that allows it to sell directly to customers in these regions. Compu-Cash is a privately held, and the details of the transaction were not divulged. Kronos wanted to expand its direct sales force, which is why it wanted to take over the region controlled by Compu-Cash. Why Compu-Cash let go of it, Kronos did not say.

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    Tags: Tags: mtfh_rc, Volume 15, Number 4 -- January 23, 2006

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    Changing Object Authorities and Ownership for an Entire Library Today’s Special: Data Area Surprise!

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TFH Volume: 15 Issue: 4

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    Table of Contents

    • Bang for the Buck Drives Server Acquisitions in the U.S., Says IDC
    • Slashdot Flamefest Pits the iSeries Against Windows
    • iSeries Sales Down 18 Percent in Q4 as Users Await i5s and V5R4
    • Kronos Expands Further into Gaming with TimeWorks, Compu-Cash Acquisitions
    • IBM Reshuffles Systems and Technology Executives
    • Arrow Electronics’ Support Net Launches Smart Shuffle iSeries Reseller Plan
    • The Job Market in 2006, Part 1: Are iSeries Shops Hiring?
    • Agilysys Opens Innovation Center for IBM Wares in New York City
    • A Little More Insight into IBM’s Server Sales in Q4 and 2005
    • Vision Solutions Appoints New Executive VP of Sales and Marketing

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