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Letter to the Editor
Friday June 20
ADP Completes Acquisition of ProBusiness Services
Arthur F. Weinbach, chairman and chief executive officer of Automatic Data Processing, Inc. has announced that ADP closed its acquisition of ProBusiness Services, Inc. on June 20 for $17 per common share, or a total of approximately $500 million, in cash, following the early termination of the Hart-Scott-Rodino waiting period.ProBusiness, located in Pleasanton, California, with revenues of approximately $170 million, is a leading provider of comprehensive payroll and human resource processing solutions to large employers in the United States.
ADP, with $7 billion in revenues and over 500,000 clients, is one of the largest independent computing services firms in the world.
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