ADP Signs Definitive Agreement To Acquire The Human Resource Solutions Subsidiary of SHPS, Inc.
Acquisition to Significantly Extend ADP’s Benefits Administration Leadership
ROSELAND, N.J. – March 8, 2012 – 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.
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
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