Kronos Acquires Time and Attendance Software from Paychex
October 20, 2009 Alex Woodie
Human capital management software vendor Kronos last week announced it has acquired the assets of Stromberg, a developer of time and attendance software and related products that was bought by Paychex in 2004. The acquisition is expected to boost Kronos’ position in the market for time and attendance software for small and mid size businesses.
Stromberg has been developing time and attendance software since it was founded in Florida in 1989. After selling its Windows-based Time In a Box time and attendance package to Paychex in 2003, the payroll and human resources giant decided to buy the whole Stromberg outfit in 2004.
Stromberg, which Paychex maintained as an independent entity, continued developing software from its headquarters in Orlando, Florida. The company’s current product lineup consists of Stromberg Enterprise, a Windows-based time and attendance package; Stromberg Enterprise Scheduling, which also runs on Windows; and several data collection products, including biometric-enabled time clocks, time entry software, and kiosks.
While Stromberg touted its capability to serve customers of all sizes, Kronos expects to sell Stromberg’s products mainly to small and mid size businesses with between 250 and 1,500 employees. Kronos already owns several enterprise-strength time and attendance and scheduling products that run on IBM i OS, Windows, and Unix.
The acquisition nets Kronos about 1,400 new customers, primarily U.S.-based organizations in retail, hospitality, and government. Stromberg customers include Bacardi Bottling, Cambridge Quality Care, Office Depot, Petco, and Universal Studios. Stromberg also had customers that ran ERP and payroll software on AS/400 servers, and the company has experience integrating with the system.
Terms of the deal were not disclosed.