Kronos to acquire workforce-management firm

Kronos, Chelmsford, Mass., which does significant business related to workforce management in the healthcare industry, agreed to acquire Unicru, Beaverton, Ore., for $150 million. The all-cash deal is expected to close by Sept. 30, pending regulatory approval. Privately held Unicru, which processes job applications for more than 140 corporate customers, will operate as Kronos' talent-management division. The acquisition is expected to boost Kronos' revenue by about $50 million in fiscal 2007 and add to earnings by fiscal 2008. Kronos, a publicly traded company, reported $519 million in revenue last year. It provides human resources, payroll, compliance, absence management and other workforce-related services to customers worldwide, including several U.S. hospital systems. -- by Laura B. Benko