Hellman & Friedman Led Investor Group to Acquire Ultimate Software for Approx. $11 Billion
02.04.19
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Simpson Thacher is representing Hellman & Friedman in connection with its definitive merger agreement to acquire Ultimate Software (Nasdaq: ULTI) in an all-cash transaction worth approximately $11 billion. The company is being acquired by an investor group led by Hellman & Friedman in partnership with significant investors, to include, Blackstone, GIC, and Canada Pension Plan Investment Board and other investors including JMI Equity. Ultimate Software will operate as a privately held company following the completion of the transaction, which is expected to close in mid-2019, subject to stockholder approval and other customary closing conditions including regulatory approvals.
Ultimate Software is a leading global provider of cloud-based human capital management and employee experience solutions, with more than 48 million people records in the cloud.
The Simpson Thacher team includes Atif Azher, Rich Capelouto, Simon Chiu, Mark Myott, Vinay Mysoor, Kira Mandella and David Wuchenich (M&A); Brian Steinhardt and Benjamin Persina (Credit); David Rubinsky and Monisha Bhayana (Executive Compensation and Employee Benefits); Pierce Pandolph (Tax); Tom Wuchenich and Robert Guo (Funds); Marcela Robledo and Megan Whitman (Intellectual Property); and Tim Mulvihill (Environmental).