Kronos Incorporated (NASDAQ: KRON), which provides workforce software, agreed to be acquired for $55 per share or $1.8 billion by the private equity firm Hellman & Friedman Capital Partners. That puts a valuation on the firm of about three times revenues.

Founded in 1977, Kronos focuses mostly on mid-size customers, helping them with scheduling, payroll and back-office services. The company charges a license fee for its offerings. Last year, Kronos expanded its business into talent management by acquiring Unicru.

As for Hellman & Friedman, the firm is no stranger to tech deals. Some of its buyouts include DoubleClick and Intergraph.

On news of the deal, Kronos' stock price increased 13.51% to $52.93. Also, the stock is up more than 50% since February.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

Kronos software agrees to $1.8 billion buyout originally appeared on BloggingStocks on Fri, 23 Mar 2007 12:59:00 EST. Please see our terms for use of feeds.