M&A Deal Summary

ADP Acquires WorkForce Software

On October 15, 2024, ADP acquired software company WorkForce Software from Insight Partners and Evergreen Coast Capital

Acquisition Highlights
  • This is ADP’s 4th transaction in the Software sector.
  • This is ADP’s 19th transaction in the United States.
  • This is ADP’s 1st transaction in Michigan.

M&A Deal Summary

Date 2024-10-15
Target WorkForce Software
Sector Software
Buyer(s) ADP
Sellers(s) Insight Partners
Evergreen Coast Capital
Deal Type Add-on Acquisition

Target

WorkForce Software

Livonia, Michigan, United States
WorkForce Software provides enterprise clients with software solutions to manage employee time and labor schedules, control and manage employee absences, create employee schedules, and track employee compliance. WorkForce Software was founded in 1999 and is based in Livonia, Michigan.

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Buyer(S) 1

Buyer

ADP

Roseland, New Jersey, United States

Category Company
Founded 1949
Sector Business Services
Employees60,000
Revenue 18.0B USD (2023)
DESCRIPTION
ADP office in St. Louis, Missouri.
ADP office in St. Louis, Missouri.

ADP is a provider of business outsourcing solutions. ADP offers a wide range of human resource (HR), payroll, tax and benefits administration solutions from a single source. ADP is also a provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment retailers and manufacturers throughout the world. ADP was incorporated in 1949 and is based in Roseland, New Jersey.


DEAL STATS #
Overall 25 of 25
Sector (Software) 4 of 4
Type (Add-on Acquisition) 22 of 22
State (Michigan) 1 of 1
Country (United States) 19 of 19
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 Sora

San Francisco, California, United States

Sora is a low-code intelligent workflow automation and data integration tool that unifies disparate business applications such as HR, IT, and other systems and data sets to create a smarter, easier-to-use experience for employees, business owners, and HR professionals. Sora is based in San Francisco, California.

Buy -

Seller(S) 2

SELLER

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 40 of 40
Sector (Software) 18 of 18
Type (Add-on Acquisition) 10 of 10
State (Michigan) 1 of 1
Country (United States) 33 of 33
Year (2024) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-03 LiveAction

Palo Alto, California, United States

LiveAction, is a provider of enterprise IT network visibility software platform. LiveAction was founded in 2007 and is based in Palo Alto, California.

Sell -
DESCRIPTION

Evergreen Coast Capital is a private equity firm that invests in a variety of industries and situations throughout the US. Evergreen Coast Capital is headquartered in Menlo Park, California.


DEAL STATS #
Overall 4 of 4
Sector (Software) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Michigan) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-29 DreamBox Learning

Bellevue, Washington, United States

DreamBox Learning provides a deeply personalized learning experience that guides and engages students at all levels with a combination of a rigorous K-8 math curriculum and a motivating learning environment that work seamlessly with pioneering Intelligent Adaptive technology. DreamBox Learning was founded in 2006 and is based in Bellevue, Washington.

Sell -