Press Releases

Stroock Guides Ultimate Software in $11B Going Private Transaction

Stroock advised Ultimate Software, a Nasdaq-listed company that is a leading global provider of human capital management solutions in the cloud, on its pending sale to an investor group led by the private equity firm Hellman & Friedman. The pending transaction values Ultimate at approximately $11 billion and is subject to a stockholder vote and other customary closing conditions. Closing is expected to occur during the second quarter of 2019.
 
After closing, Ultimate would operate as a privately held company.
 
The Stroock deal team, led by Christopher Doyle, co-head of Stroock’s Corporate Practice Group, included corporate lawyers Jeffrey Lowenthal (partner), Daniel Park (special counsel), Alexandra (Z-Z) Cowen (associate), Elizabeth Loonam (associate) and Jacques Zelnik (law school graduate); tax lawyers Jeffrey Uffner (partner) and Daniel Martinez (associate); ERISA lawyer Austin Lilling (partner); IP lawyer Ian DiBernardo (partner); employment lawyer Elizabeth DiMichele (special counsel); privacy lawyer Stephen Newman (partner); and regulatory lawyers Chris Griner (partner), Anne Salladin (special counsel) Shannon Reaves (special counsel) and Bibek Pandey (associate).
 
Read Ultimate’s full press release here.