Ceridian Buys Fellow Information Services Firm for $750m.Ceridian Ceridian Corporation NYSE: CEN is an information services company in the human resources, transportation and retail markets. It is a publicly traded company on the New York Stock Exchange. The current Chairman of the Board is L. White Matthews, III. Corp, a Minneapolis-based information services See Information Systems. and payroll firm, says it has signed a deal to acquire ABR (1) (AutoBaud Rate detect) The analysis of the first characters of a message to determine its transmission speed and number of start and stop bits. (2) (Available Bit R Information Services Inc in a deal valued at $750m. ABR, based in Palm Harbor, Florida Palm Harbor is a census-designated place and an unincorporated community in Pinellas County, Florida, United States. As of the 2000 census, the CDP had a total population of 59,248. Culture Palm Harbor is roughly 45 minutes from downtown St.Petersburg and Tampa. , provides benefits administration, payroll, and human resource services. Ceridian will pay $25.50 in cash for all outstanding ABR shares and says it will fund the deal with existing cash and borrowings. The company reckons the deal will be slightly dilutive to projected earnings per share in 1999 and 2000, it should be immediately accretive to cash flow and is expected to effect significant growth in Ceridian's HR business. The transaction is expected to be completed in the second quarter. |
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