ADP Signs Agreement To Acquire ProBusiness, Inc.; ADP and ProBusiness Produce A Strong Strategic Combination.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--Jan. 6, 2003 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. (R) Employer Services (ES) division, a leading provider of integrated payroll services, human resource systems, and benefits administration, today announced the signing of an agreement for ADP to acquire all outstanding shares of ProBusiness, 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 : PRBZ), a provider of comprehensive payroll and human resource processing solutions to large employers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . This acquisition provides a strong strategic fit with the ADP Employer Services division. Founded in 1984, ProBusiness serves more than 760 clients and 4.8 million employees through a portfolio of payroll, payroll tax Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. , human resource and benefits administration solutions. ProBusiness' services are offered stand-alone or as a comprehensive suite that is tailored to meet the client's needs. "ADP's acquisition of ProBusiness benefits both our clients and our stakeholders," said Russ Fradin, President, ADP Employer Services, North America. "The ProBusiness strategy, mission and commitment to customer service are complementary to those of ADP." Fradin added, "With a customer retention level in excess of 90%, ProBusiness has excelled at acquiring and retaining clients. The ProBusiness service model has been exemplary, and we believe that by combining our collective assets in service, with our broad range of technology solutions, tremendous benefits will be produced for our clients." Fradin also commented, "ADP has enormous respect for the business ProBusiness has built, and the entrepreneurial approach they have demonstrated in producing impressive growth and customer satisfaction over the years. When you combine ADP's strong business model and significant financial resources with this pioneering effort, the anticipated results are exciting." "We are excited by the agreement to add ProBusiness' services to ADP's offerings," said Tom Sinton, ProBusiness CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "By combining ProBusiness' focus on Service Excellence and our leadership in managed services with ADP's impressive services, global reach and financial strength, we can deliver the very best solutions to clients, and become a strong contributor to ADP's continuing success." The announced transaction is subject to ProBusiness shareholder approval and normal regulatory review. About ADP Automatic Data Processing Same as data processing. , Inc. (NYSE NYSE See: New York Stock Exchange :ADP) is one of the largest independent computing services firms in the world, with $7 billion in revenue and 500,000 clients. ADP Employer Services (ES), a division of ADP, Inc., is a leading provider of integrated business administrative solutions that help its over 450,000 clients efficiently manage their internal processes, allowing them to focus on core competencies. ADP's Employer Services offerings include both traditional and Internet-based outsourcing products and services, giving clients the ability to select from ADP's comprehensive range of World Class Service solutions. Services include: payroll, tax regulatory management, HRMS HRMS Human Resource Management System HRMS High Resolution Microwave Survey (SETI, Project Phoenix) HRMS High Resolution Mass Spectroscopy HRMS High Resolution Molecular Spectroscopy HRMS Human Resources Management Specialist , benefits administration, time and labor management, retirement plan services, online recruiting, PEO services, and employment screening and selection. For more information about ADP Employer Services, or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.adp.com. About ProBusiness ProBusiness, Inc. is a provider of HR business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ) services that streamline processes, reduce administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , and improve service levels for large employers nationwide. ProBusiness offers services in payroll, payroll tax, benefits administration, human resources, and Web self-service. Clients have the flexibility to choose either single-function, stand alone services or multi-function, end-to-end Comprehensive Outsourcing. Comprehensive Outsourcing extends ProBusiness services with employee-facing services, such as payroll administration and employee inquiry management, through employee service centers. Complete information about ProBusiness is available at http://www.ProBusiness.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion