M&A Deal Summary

ADP Acquires WorkMarket

On January 22, 2018, ADP acquired software company WorkMarket

Acquisition Highlights
  • This is ADP’s 3rd transaction in the Software sector.
  • This is ADP’s 16th transaction in the United States.
  • This is ADP’s 1st transaction in New York.

M&A Deal Summary
Date 2018-01-22
Target WorkMarket
Sector Software
Buyer(s) ADP
Deal Type Add-on Acquisition

Target

WorkMarket

New York, New York, United States
WorkMarket, Inc. is a provider of work automation software as it continues to expand its portfolio of enterprise and technology service customers. WorkMarket helps companies manage their integrated workforce in a simple, secure and compliant manner. WorkMarket's innovative solutions include tools to source and vet independent workers, manage their engagements, and pay and evaluate these workers. WorkMarket was founded in 2010 and is based in New York, New York.

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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 22 of 25
Sector (Software) 3 of 4
Type (Add-on Acquisition) 19 of 22
State (New York) 1 of 1
Country (United States) 16 of 19
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-05 Global Cash Card

Irvine, California, United States

Global Cash Card engages in digital payments, including paycards and other electronic accounts. Global Cash Card's offering is powered by one of the most advanced and flexible digital payments processing platforms in the industry. The company offers solutions for both Form W-2 employees and Form 1099 contractors, as well as online tools that help customers manage their digital accounts, including online bill pay, rewards plan enrollment, multi-purse capability for providing secondary account holders access to a portion of available balances, and an expense manager that allows customers to organize, categorize and budget their expenses. All of this helps workers by bringing together in one place both their wages and their most significant financial transactions and providing a more complete picture of their financial well-being. The company's proprietary platform is highly configurable based on customer needs, and is Payment Card Industry Data Security Standard (PCI DSS) compliant.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Celergo

Chicago, Illinois, United States

Celergo LLC is a provider of multi-country payroll in 150 countries and combines a proprietary cloud-based technology platform with a local provider network to enable timely, accurate and compliant payroll. Celergo was founded in 2003 and is based in Chicago, Illinois.

Buy -
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