Kirkland & Ellis advised Blackstone Group (NYSE:BX), one of the world’s leading investment firms, as part of an investor group on the acquisition of Ultimate Software (NASDAQ:ULTI), a leading provider of human capital management (HCM) solutions in the cloud, in an all-cash transaction for approximately $11 billion. Upon completion of the transaction Ultimate Software will operate as a privately held company. The transaction is expected to close in mid-2019 and is subject to customary closing conditions.
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The Kirkland team was led by transactional partner Leo Greenberg and associate Andy Fleischman.