Deals

Ultimate Software to Go Private in $11 Billion Cash Deal

Hellman & Friedman lead investor group in $331.50/share offer
Company makes cloud-based human-resources management software

High End Data Cables Feed Into Servers — Photographer: Simon Dawson/Bloomberg

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By Molly Schuetz

February 4, 2019 at 12:25 PM UTC

Updated on

February 4, 2019 at 3:50 PM UTC

This article is for subscribers only.

Ultimate Software Group said it agreed to be acquired by an investor group led by Hellman & Friedman Capital Partners in a deal valued at about $11 billion.

Shareholders of Ultimate Software, which makes cloud-based human resources management software, will receive $331.50 per share in cash, the company said in a statement Monday. The terms represent a premium of about 32 percent over the company’s average stock price during the 30 days up to Feb. 1. Ultimate shares rose 20 percent in New York trading.