Kronos Busca Expandirse en 2016
CHELMSFORD — The town’s largest business — and growing — is looking to expand this year.
Global time management and optimization software company Kronos is considering leasing another building nearby or moving the entire operation to one leased location within a radius of five to seven miles, CEO Aron Ain said Friday.
Kronos CEO Aron Ain outside of the company’s Billerica Road headquarters in Chelmsford Friday. Sun / Alana Melanson
“We love Chelmsford. It’s our home,” Ain said. “But we have to do what’s right for Kronos. And if that means that it’s to expand in Chelmsford, then we will expand in Chelmsford. If that means that there’s a better choice close by, then we will consider that better choice close by.”
Ain said the company hasn’t made any decisions yet but hopes to have a plan in place within the next 90 days. Chelmsford “has done nothing but be helpful and supportive” to Kronos in weighing its options, he said. Ain said he’s grateful to the town and if it wasn’t for its hospitality, the company may have been “more open to doing something else away from Chelmsford.”
Ain noted that staying nearby is also important to employees, many of whom live in the area. He said the company intends to stay within the Route 3/Interstate 495 corridor.
Kronos has more than 4,500 employees worldwide, including nearly 1,300 in Massachusetts. Over the next year, the company plans to hire at least 1,000 more employees globally, hundreds of which will be in Massachusetts, Ain said.
Kronos now occupies 322,000 square feet between its Billerica Road headquarters, which it owns, and two nearby buildings it leases.
Ain said the buildings are at roughly 96 percent capacity and additional space will be necessary no later than the end of the year. He said Kronos will need a total of 400,000 to 420,000 square feet for the near future.
Kronos reached $1.1 billion in revenue in the last fiscal year. On Tuesday, the company announced strong first quarter revenue for fiscal 2016, increasing to $273.2 million. Earnings before interest, tax, depreciation and amortization were $77.6 million.
Ain attributes the company’s success to a shift from an on-premise software licensing model to the cloud, as well as a number of key acquisitions that have allowed it to serve more businesses of all sizes and governmental entities.
The company also invests heavily in its people, he said, leading it to be recognized as the best place to work in the state.
Ain said Kronos will stay focused on its workforce-management business, seeking more vertical solutions and market expansion opportunities while continuing to look after employees.
“If we can do all that, we can be a $2 billion company at some point in the near future,” Ain said.