ROSELAND, N.J., March 8, 2012 /PRNewswire/ -- ADP®, a
leading provider of human resource outsourcing, payroll services,
tax and compliance services, benefits administration and integrated
computing solutions for vehicle dealers, today announced that it
has entered into a definitive agreement to acquire the human
resource solutions subsidiary of SHPS, Inc., a highly respected
provider of benefits administration services.
Based in Louisville, Ky., SHPS
Human Resource Solutions offers a robust human resources
portfolio that includes benefits eligibility and enrollment,
spending accounts, COBRA, absence management, benefits advocacy,
and print and fulfillment, and is a natural complement to ADP's
already strong benefits solutions and services. The acquisition
will enable ADP to continue to enhance its benefits offering while
significantly expanding its capabilities in the areas of absence
management and reimbursement solutions, such as Flexible Spending
Accounts (FSA), Health Savings Accounts (HSA) and Health
Reimbursement Accounts (HRA).
Closing of the acquisition is expected in the first quarter of
calendar 2012 and is subject to customary closing conditions. Terms
of the definitive agreement were not disclosed.
About ADP
Automatic Data Processing, Inc. (NASDAQ: ADP), with about
$10 billion in revenues and
approximately 570,000 clients, is one of the world's largest
providers of business outsourcing solutions. Leveraging over 60
years of experience, ADP offers a wide range of human resource,
payroll, tax and benefits administration solutions from a single
source. ADP's easy-to-use 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, recreational vehicle, and heavy equipment
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 Web site at www.ADP.com.
About SHPS
SHPS, Inc. is a national, single-source provider of benefits
administration, medical management software and health improvement
programs through its SHPS Human Resource Solutions, Landacorp and
Carewise Health subsidiaries. We help employers and their employees
get the most value from their health benefits and health
spending. Whether accessing a single service or a suite of
solutions, clients benefit from our unique perspective of the
entire employee experience. To learn more, visit
www.shps.com.
For more information, contact:
Christian Harper, Weber Shandwick
for ADP
(212) 445-8135
charper@webershandwick.com
SOURCE Automatic Data Processing, Inc.