PRTODAY / NewswireToday Free press release distribution service network

More news: Software
Written by / Agency / Source: Automatic Data Processing, Inc.

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

ADP to Acquire Cobalt, Leading Provider of Digital Marketing Solutions for the Automotive Industry - Automatic Data Processing, Inc.®, (Nasdaq: ADP) has entered into a definitive agreement to acquire Cobalt for approximately $400 million, in cash, Gary C. Butler, president and chief executive officer, announced today
ADP to Acquire Cobalt, Leading Provider of Digital Marketing Solutions for the Automotive Industry

 

NewswireToday - /newswire/ - Roseland, NJ, United States, 2010/07/09 - Automatic Data Processing, Inc.®, (Nasdaq: ADP) has entered into a definitive agreement to acquire Cobalt for approximately $400 million, in cash, Gary C. Butler, president and chief executive officer, announced today. NASDAQ: ADP

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The transaction is subject to normal regulatory review and is expected to close in four to six weeks.

Commenting on the transaction, Mr. Butler said, “I am pleased to announce this transaction. Acquisitions that complement our core businesses are a key part of ADP’s five-point strategic growth program and the primary focus of our capital allocation strategy. Cobalt is the leading provider of digital marketing solutions to automotive manufacturers and dealers in North America. This transaction aligns with ADP Dealer Services’ global layered applications strategy to increase “share of wallet” beyond its core dealer management system offering. We believe the timing of this transaction is optimal as online advertising spend is expected to continue to outpace that of traditional channels in the U.S.” Cobalt is privately held and headquartered in Seattle, Washington. ADP expects the transaction to be slightly accretive in the first year, with continued positive earnings contributions anticipated in subsequent years.

ADP’s capital allocation strategy also includes returning excess cash to shareholders through share repurchases and dividends. For the fiscal year ended June 30, 2010, ADP repurchased about $18.2 million shares for over $765 million, and additionally paid nearly $675 million in dividends to its shareholders. Nearly 29 million shares remain available for purchase under the current board of directors authorization.

ADP will be hosting an analyst conference call on Monday July 12, 2010 at 4:00 pm EDT to discuss the transaction. Gary Butler, ADP’s president & chief executive officer, Christopher Reidy, ADP’s chief financial officer, Steve Anenen, president of ADP Dealer Services, and John Holt, chairman and chief executive officer of Cobalt will be participating on the call. A live webcast of the call will be available to the public on a listen-only basis. To listen to the webcast go to ADP’s home page or ADP’s Investor Relations home page and click on the webcast icon.

As announced previously, ADP is scheduled to report its financial results for fiscal 2010 on Thursday, July 29, 2010 before the opening of the Nasdaq, followed by a webcast at 8:30 am EDT. The webcast can be accessed through ADP’s home page or ADP’s Investor Relations home page. In addition, the slide presentation will be available to download and print approximately 60 minutes before the webcast at ADP’s Investor Relations home page. A replay of the webcast will be available for approximately two weeks after the event and can be accessed in the same manner as the live webcast. ADP’s news releases, current financial information, SEC filings and Investor Relations presentations are accessible at the same Website.

About ADP

Automatic Data Processing, Inc. (ADP.com), with nearly $9 billion in revenues and about 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use, cost-effective 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 and recreational vehicle 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.

This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: ADP's success in obtaining, retaining and selling additional services to clients; the pricing of products and services; changes in laws regulating payroll taxes, professional employer organizations and employee benefits; overall market and economic conditions, including interest rate and foreign currency trends; competitive conditions; auto sales and related industry changes; employment and wage levels; changes in technology; availability of skilled technical associates and the impact of new acquisitions and divestitures. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. These risks and uncertainties, along with the risk factors discussed under "Item 1A. - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2009, should be considered in evaluating any forward-looking statements contained herein.

Source: Automatic Data Processing, Inc.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Automatic Data Processing, Inc.

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


ADP to Acquire Cobalt, Leading Provider of Digital Marketing Solutions for the Automotive Industry

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Elena Charles / Debbie Morris 
973-974-4077 / 973-974-7821
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Automatic Data Processing, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Automatic Data Processing, Inc. / Company Profile


Read Software Most Recent Related Newswires:

IBM Debuts Blockchain Ecosystem to Help Accelerate Growth of Networks on Hyperledger Fabric
Permanent TSB to Improve Contact Centre Performance and Compliance with Noble Systems Composer Real-Time Speech Analytics
Rush Health Selects InterSystems HealthShare to Integrate Health Records, Support Value-Based Care
IBM Launches New Bluemix Services with GitHub and Slack Integration to Speed App Development in the Cloud
Yellowfin Launches Analytics Industry’s First Virtualized Integrated Data Preparation Module
TIBCO Releases TIBCO Mashery Local API Management Solution for Hybrid Gateway Deployments
Comways and Altitude Highlight Flexible Solutions at Belgium Contact Center Congress
Gruppo Campari Chooses OpenText Business Network for B2B Growth
Infor Delivers Enhanced Mobile Equipment Solution
Mentor Graphics and SiliconIndia Announce 2016 Leadership Awards for the Embedded/VLSI Industry
Korean Retailer Homeplus Optimizes Store Planning with JDA Category Management
IBM and Pfizer to Accelerate Immuno-oncology Research with Watson for Drug Discovery
The VELUX Group to Drive Smart Product Innovation with Implementation of PTC Windchill Across the Enterprise
KPIT Takes A Strategic Stake in A Germany Headquartered Automotive Engineering Services Company
Pegasystems Named Silver Winner for Best New Product of the Year in Best in Biz Awards 2016

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)