ADP Employer Services, a division of Automatic Data Processing Inc., announced that it has completed its acquisition of Taxware LP from First Data Corp.
ADP entered into an agreement in October to acquire Taxware for approximately $125 million in cash. For more than 25 years, Taxware had produced products aimed at simplifying the tax calculation and compliance process with solutions for sales, use, value added and other consumption taxes for businesses.
“This acquisition builds on our strong position in tax compliance services and is another milestone in ADP Employer Services’ growth strategy,” said ADP president and chief executive Gary C. Butler, in a statement. “We have acquired a product suite very close to the core of our existing services and extremely beneficial to our client base.”
The Taxware line should serve to broaden ADP’s bundled solutions across the company’s sales distribution channel.
The Taxware acquisition is the company’s second tax-related acquisition in the last three months. In August, ADP announced the acquisition of Mintax, which secures tax credits and economic incentives for corporate clients. The division also announced in August that it would acquire Employease Inc., a leading provider of Web-based solutions and outsourcing options for human resources professionals.
