ROSELAND, N.J., Nov. 6, 2012 /PRNewswire/ -- ADP®, a leading
global provider of Human Capital Management (HCM) services, today
announced it has signed a definitive agreement to sell the ADP
Taxware business to Vista Equity Partners, a leading private-equity
firm focused on investments in software and technology-enabled
services. Terms of the sale were not disclosed.
ADP Taxware, a leading provider of automated solutions for
sales, use and value-added tax compliance, is based in Salem, N.H., and serves more than 1,200
clients.
Vista invests in companies that develop and market enterprise
mission-critical software, software-as-a-service, and
technology-enabled business services. Vista chose to acquire
Taxware because of its strong market position, product offerings,
loyal and satisfied clients, and its highly talented and devoted
employees. Leveraging its experience with numerous other
enterprise mission critical software companies, Vista is
well-positioned to help Taxware execute its growth strategy and
strengthen and expand its product offerings.
According to Robert F. Smith,
chairman and CEO of Vista Equity Partners, "We are long-term
investors in enterprise application software companies that are
committed to being leaders in their markets. We are impressed
with the compelling value proposition the Taxware products and
services offer their customers, the impressive list of marquee
clients and their history of being a leader in the markets they
serve. We look forward to working with them to allow them to
reach their full potential."
"Clients are at the heart of everything we do," said
Kenneth Zemba, division vice
president and general manager of ADP Taxware. "As part of Vista
Equity Partners, we'll continue our history of providing clients
with industry-leading products and services."
The transaction, which is subject to customary closing
conditions, is expected to close by Dec. 31,
2012.
About ADP
Automatic Data Processing, Inc. (Nasdaq:
ADP), with more than $10 billion in
revenues and approximately 600,000 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 website at www.ADP.com.
About Vista Equity Partners
Vista, a U.S.-based
private equity firm with offices in San
Francisco, Chicago, and
Austin, currently invests over
$6.6 billion in capital committed to
dynamic, successful technology-based organizations led by
world-class management teams with long-term perspective. Vista is a
value-added investor, contributing professional expertise and
multi-level support towards companies realizing their full
potential. Vista's investment approach is anchored by a sizable
long-term capital base, experience in structuring
technology-oriented transactions, and proven management techniques
that yield flexibility and opportunity in private equity investing.
www.vistaequitypartners.com
Contact:
Jon
Mellor
ADP
(973) 974-5629
jon.mellor@adp.com
SOURCE Automatic Data Processing, Inc.