Ultimate Software is a Delaware corporation formed in April 1996 to assume the business and operations of The Ultimate Software Group, Ltd. (the Partnership), a limited partnership founded in 1990. Ultimate Software, sharing some similarities with Taleo Corporation a leader in the Software as a Service (SaaS) space for talent management solutions - is focused on human resources and talent management solutions but, in addition, provides payroll functions. Headquartered in Florida, the company delivers Web-based payroll and employee management solutions to organizations of all sizes. Ultimate Software's UltiPro Workforce Management Software suite enables businesses to manage human resources and payroll strategically and cost-effectively, benefiting everyone in the organization by providing access to value-added resources via the Internet. UltiPro includes human resources, payroll, benefit management, comprehensive reporting, benefit enrollment, employee administration, recruitment, and training management. Customers are able to manage every aspect of the employee lifecycle in one place. UltiPro is designed for mid-sized customers, with 600 to 15,000 employees, and leverages the Microsoft technology platform. Ultimate Software's BSP Solution is marketed to business service providers (BSP) that have relationships with organizations with fewer than 500 employees. This product is easier and more convenient for smaller companies to use, and it leverages functionality from UltiPro. Ultimate Software's hosted offering, branded Intersourcing, provides Web access to comprehensive workforce management functionality for organizations that need to simplify the information technology (IT) support requirements of their business applications. This offering is designed to provide an appealing pricing structure to customers who prefer to minimize their initial cash outlay. UltiPro is marketed primarily through the company's direct sales team. The company has over 1,400 customers, representing over 7,000 companies. Ultimate Software's customers operate in a wide variety of industries, including manufacturing, food services, sports, technology, finance, insurance, retail, real estate, transportation, communications, healthcare and services.