ADP Enters Agreement To Acquire Workscape, Inc.
Acquisition Will Significantly Expand ADP's Presence in the Benefits Marketplace
ROSELAND, N.J., July 1 /PRNewswire-FirstCall/ -- ADP®, a leading provider of HR, payroll and benefits administration services, today announced it has entered into a definitive agreement to acquire privately-held Workscape, Inc., a leading provider of integrated benefits and compensation solutions and services.
Based in Marlborough, Mass., Workscape serves a broad client base, including numerous Fortune 250 companies, and provides solutions to more than 3.5 million users with services deployed in over 180 countries, 48 currencies and 70 languages. As such, the acquisition will significantly expand ADP's presence within the benefits marketplace for large, complex organizations.
Closing of the acquisition is expected in the third quarter of calendar 2010 and is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is not subject to financing. Terms of the proposed agreement were not disclosed.
Automatic Data Processing, Inc. (Nasdaq: ADP), with nearly $9 billion in revenues and about 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use, cost-effective solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's website at www.ADP.com.
Workscape addresses the talent management, benefits administration and employee communication challenges of hundreds of organizations and millions of workers across the country and across the globe. For more than a decade, Workscape has been delivering Web-based software and services that help organizations reduce healthcare costs, improve adherence to compensation budgets and ensure alignment between employee activities and corporate goals. As a result, Workscape's employee-centric approach has consistently helped organizations with their greatest workforce expenditures: healthcare benefits and employee compensation.
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