CHELMSFORD, MA. — June 11, 2007 — JMI Equity and Hellman & Friedman Capital Partners VI, L.P. recently completed an acquisition of Kronos® Incorporated (Nasdaq: KRON) in a transaction valued at approximately $1.8 billion. Under terms of the agreement, Kronos shareholders will receive $55.00 per share in cash for each share of Kronos common stock held. As of June 11, 2007, Kronos stock will cease to trade on the Nasdaq Global Select Market at market close and will no longer be listed.
Kronos Incorporated focuses on delivering software and services that enable organizations to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. The company serves customers in more than 50 countries through its network of offices, subsidiaries, and distributors.
JMI Equity, based in Baltimore and San Diego, is a private equity firm exclusively focused on providing growth capital to software and service companies. Founded in 1992, JMI has invested in more than 80 companies throughout North America and has approximately $700 million of capital under management. In addition to providing the first institutional capital to self-funded companies, JMI also invests in selected recapitalization and management buyout financings. Representative investments include Blackbaud, Inc., Jackson Hewitt, Inc., Mission Critical Software, Inc. (acquired by NetIQ, Inc), NEON Systems, Inc. (acquired by Progress Software Corporation), Transaction Systems Architects, Inc., and Unica Corporation.