ADP, a provider of HR, payroll and benefits administration services, 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.
