The pair paid $1.8bn for the company back in 2007. In November 2013, they bought insurance software company Applied Systems from Bain Capital for $1.8bn.
Kronos currently boasts EBITDA of around $350m. Buyout firms said to be interested include KKR, TPG Capital and Bain Capital.
Hellman & Friedman and JMI have extracted dividends of over $1.5bn over their six-year ownership, the report said, having invested only $753m in equity. Most recently Kronos arranged a $490m dividend recapitalization in November.
JMI Equity raised its largest fund to date in 2010, netting $875m from investors for its seventh fund and exceeding its $800m target.
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