CHELMSFORD, Mass.--(BUSINESS WIRE)--Nov. 8, 2006--In support of an ongoing initiative to expand its direct sales network, Kronos(R) Incorporated (Nasdaq: KRON) today announced the acquisition of Time Controls, Inc. Kronos acquired the Knoxville, Tenn.-based authorized dealer in a cash purchase transaction. Time Controls was a Kronos dealer in the greater Appalachian region of the U.S. including portions of Kentucky, North Carolina, South Carolina, Tennessee, and Virginia.
By acquiring Time Controls, Kronos now sells its solutions through its own direct sales network into the territories formerly managed by the dealer. Kronos will retain key Time Controls employees who will continue to provide service to existing customers.
"As one of our first dealer partners, Time Controls had been an important part of the Kronos distribution network for many years," said Paul Lacy, president of Kronos. "Kronos' acquisition of Time Controls is a natural transition. Incorporating this former dealer territory into our direct sales network enables us to gain a robust customer roster with penetration across a broad cross-section of industries."
Kronos Incorporated empowers organizations around the world to effectively manage their workforce. At Kronos, we are experts who are solely focused 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. Kronos serves customers in more than 50 countries through its network of offices, subsidiaries, and distributors. Widely recognized as a market and thought leader in managing the workforce, Kronos has unrivaled reach with more than 30 million people using a Kronos solution every day. Learn more about Kronos at www.kronos.com.
(C) 2006 Kronos Incorporated. Kronos and the Kronos logo are registered trademarks of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
CONTACT: Kronos Incorporated