ADP®, a leading provider of human resource outsourcing, payroll services, tax and compliance services, benefits administration and accounts payable solutions, today announced that it has acquired the Indian payroll business of Randstad Holding nv, NYSE Euronext Amsterdam, from its Indian subsidiary Ma Foi Randstad. The terms of the transaction were not disclosed.
Ma Foi Consulting Solutions Ltd., the Indian company acquired by ADP from Ma Foi Randstad, offers managed payroll services and social benefits administration to clients across India through a fully customized payroll engine. The company uses this platform to serve approximately 350 brand-name multinational and domestic clients. As part of the transaction, ADP will take on a team of over 200 new associates.
Ma Foi and ADP have partnered in the marketing and operation of ADP Streamline® service since 2009. ADP Streamline, a key offering in ADP’s growing multinational client portfolio, is the company’s payroll solution for clients with small to mid-sized presence in multiple countries across the world. This acquisition supports ADP’s broader strategy to expand its global footprint in human resources business process outsourcing (HR BPO) across large and developing markets.
Mark Benjamin, President, ADP Employer Services International commented,"I am very pleased to take our longstanding partnership with Ma Foi to the ownership phase. ADP's acquisition of Ma Foi Consulting Solutions gives us a direct presence in the large and developing Indian market for HR BPO. This acquisition also enhances our ability to meet the needs of our large multinational clients with operations in India, whom we serve through our ADP Streamline and GlobalView® solutions.”
Rahul Goyal, President of Ma Foi Consulting Solutions, who will continue to manage the business for ADP, added: "We are delighted to become a part of the ADP team. ADP has an excellent reputation and track record in the payroll and HR industry around the world. We look forward to strengthening our service offering to domestic and multinational companies operating in the Indian marketplace through increased focus and investment as a result of this strategic combination."
Automatic Data Processing, Inc. (Nasdaq: ADP), with about $10 billion in revenues and approximately 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP (ADP.com) is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world.