Ultimate Bet has merged with Absolute and uses the Absolute hand history format.
To import these hands, open the File > Auto-Import Hand Histories > Absolute Poker window.
Click the Hand History Folder Location button and point it to the c:\program files\ultimatebet\handhistory folder.
Then start the timer and it should load the hands. You no longer will need to use PokerAce or UltimateHistory to get hands because they are stored automatically now.
Note that they will also import after each hand because the files are no longer being locked until you leave the table like the old UB software used to do.
Also, these hands will be imported as ABS as the poker site. Use the Alias button on the General tab of the ring or tourney stats window to create an alias to your UB account name and then the stats will be combined.