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Santiago, Chile, 2013/06/04 - ADP®, a leading provider of global human capital management (HCM) solutions, announced that it has acquired Payroll S.A., a provider of human resource outsourcing, payroll and employee benefits services across Chile, Argentina and Peru (NASDAQ: ADP) - Pay. NASDAQ: ADP
Headquartered in Santiago, Chile, Payroll S.A. maintains offices in Buenos Aires and Cordoba in Argentina and Lima, Peru. Payroll’s solutions and technologies include core payroll, HR, performance management, recruiting, scheduling, absence management, time and labor management, and allow for mobile self-service access. Their solutions are offered through a spectrum of delivery methods, including full outsourcing, software-as-a-service and on-site deployment. Payroll S.A. currently has more than 1,300 clients and employs over 450 associates.
“Today’s announcement marks an important building block in our global HCM strategy. We currently offer HCM solutions to clients in over 80 countries and this acquisition will further reinforce our capabilities in the fast-growing Latin American market,” said Mark Benjamin, Division President, ADP. “Payroll S.A. has been a business partner of ADP since 2009, and through this partnership we’ve both enjoyed a collaborative and productive relationship. ADP is committed to growing its Latin American business and both companies are excited about today’s announcement.”
ADP already serves local clients in Brazil with its in-country solutions and multi-national clients across Latin America through its ADP Globalview® and ADP Streamline® multi-national offerings.
Rodrigo Castro Melfi, Payroll S.A.’s founder, commented,“ADP and Payroll S.A. have come to know each other well since forming our partnership around the ADP Streamline® offering. I am convinced that by formally combining forces, Payroll S.A. will benefit from the scale, resources and product innovation of this leading provider of global HCM solutions. This marks the beginning of an exciting new chapter for Payroll S.A., its clients and associates.”
“Latin America is an exciting high-growth market for HR solutions,” said Gary Bragar, HR Outsourcing Research Director at NelsonHall. “This market represents a multi-billion dollar opportunity, and we see strong momentum in the region with annual growth rates in the high single digits. ADP is a global pioneer in HR and Payroll Outsourcing with operations around the globe, and their acquisition of Payroll S.A. is a strategic move that puts them in a position of strength in Latin America.”
The terms of the transaction were not disclosed.
About Payroll S.A.
With nearly 20 years of industry expertise and operations across Chile, Peru and Argentina, Payroll S.A. (payroll.cl) provides a broad array of payroll and HR outsourcing solutions to clients of all sizes, including domestic and multi-national organizations.
With more than $10 billion in revenues and more than 60 years of experience, ADP® (adp.com) serves approximately 600,000 clients in more than 125 countries. As one of the world's largest providers of business outsourcing and human capital management solutions, ADP offers a wide range of human resource, payroll, talent management, tax and benefits administration solutions from a single source, and helps clients comply with regulatory and legislative changes, such as the Affordable Care Act (ACA). 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.
Media Contact: Isabel Lichnovsky - Extend for ADP
W: (562) 24377725 / M: (569) 98714861 - E: ilichnovsky[.]extend.cl.