Blackstone, GIC To Invest $750M Into Kronos

Law360, New York (February 20, 2014, 5:33 PM EST) -- The Blackstone Group LP and GIC Private Ltd. will invest a combined $750 million into human resources software firm Kronos Inc., the companies said Thursday, in a deal that will enable Kronos to effect a recapitalization.

The deal — which values Massachusetts-based Kronos at $4.5 billion — is expected to close in the first half of 2014. According to Kronos' Thursday press release, Blackstone and GIC's $750 million investment will complement undisclosed investments by the company's two original investors, Hellman & Friedman LLC and JMI Equity....
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