ADP Completes Acquisition of Avert.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--Aug. 17, 2001 Automatic Data Processing Same as data processing. , Inc., (NYSE NYSE See: New York Stock Exchange :ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. ) today announced that it has successfully completed the acquisition of Avert, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AVRT AVRT atrioventricular reciprocating tachycardia. ). Avert, located in Fort Collins, Colorado The City of Fort Collins, a home rule municipality situated on the Cache la Poudre River along the Colorado Front Range, is the county seat and most populous city in Larimer County, Colorado. , with revenues of approximately $18 million, is a leading pre-employment verification company providing customizable employment screening solutions to assist small, medium and large sized employers on an outsourced basis. Avert's shareholders will receive $22.00 cash for each outstanding share of Avert. ADP, with over $7 billion in revenues and 500,000 clients, is one of the largest independent computing services firms in the world. This release contains "forward-looking statements" based on management's expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ from those expressed. Factors that could cause differences include: ADP's success in obtaining, retaining and selling additional services to clients; the pricing of products and services; changes in laws regulating payroll taxes and employee benefits; overall economic trends, including interest rate and foreign currency trends; stock market activity; auto sales and related industry changes; employment levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. |
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