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Denniston & Denniston has been acquired by Kronos
Publicly-traded Kronos Incorporated expands its service offerings with the acquisition of Denniston & Denniston’s labor management business assets. Selling its labor management business assets to Kronos enables Denniston & Denniston to focus on its revolutionary ENEWEL product line.
Bill Denniston ,
CEO
SEG’s advice throughout was direct, clear, thoughtful and insightful. Their negotiating skills significantly increased the value of the transaction and kept the process friendly and professional. We at DDI were extremely pleased with the resulting transaction, its valuation and its terms."
- Bill Denniston, former CEO, Denniston & Denniston
SEG served as exclusive advisor to Denniston & Denniston
Client Description
The company
Denniston & Denniston, Inc. (DDI), the premier provider of labor management solutions to the healthcare industry.
Buyer Description
The company
Kronos Incorporated (Nasdaq:KRON), a leading provider of frontline labor management solutions.
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PRESS RELEASE OVERVIEW
Software Equity Group’s Client, Denniston & Denniston, Inc. (DDI), acquired by Kronos Inc.
July 2, 2001, San Diego, CA ––Software Equity Group, L.L.C., a leading technology M&A Advisory, announced today that its client Denniston & Denniston, Inc. (DDI), the premier provider of labor management solutions to the healthcare industry, has sold its labor management business assets to Kronos Incorporated (Nasdaq:KRON), a leading provider of frontline labor management solutions. Under the terms of the agreement, Kronos acquired the DDI assets in a cash purchase transaction.
“This transaction enables DDI to transition its time and attendance business to Kronos, the industry leader, while retaining its revolutionary ENEWEL product line,” said Bryan Warren, Senior Vice President of Software Equity Group. ENEWEL is a web-based platform for Activity Based Costing and Statistical Process Control that enables the services sector to employ the same familiar accounting framework used in the manufacturing sector.