ADP Agrees to Sell ADP Taxware to Vista Equity Partners
ROSELAND, N.J., Nov. 6, 2012
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
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.
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
SOURCE Automatic Data Processing, Inc.
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