ADP Acquires WorkForce Software
Rhea-AI Summary
ADP (Nasdaq: ADP) has acquired WorkForce Software, a premier workforce management solutions provider specializing in supporting large, global enterprises. This acquisition aims to expand ADP's global offering of workforce management solutions and drive innovation to meet future business needs. WorkForce Software, founded in 1999 and headquartered in Michigan, offers robust time and attendance, scheduling, forecasting, leave and absence management, and employee communications capabilities.
The acquisition will broaden ADP's full suite of workforce management solutions to meet the needs of its over one million clients in more than 140 countries. WorkForce Software's solutions are designed to adapt to an organization's unique needs, accommodating various pay rules, labor regulations, and schedules for different types of employees.
Positive
- Expansion of ADP's global workforce management solutions offering
- Access to WorkForce Software's expertise in supporting large, global enterprises
- Potential for increased innovation in workforce management solutions
- Broadening of ADP's client base and market reach
- Enhancement of ADP's ability to meet diverse workforce management needs
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ADP declined 0.33%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Transaction will expand global offering and drive workforce management innovation to meet the future needs of businesses
"As the needs of today's global workforce continue to shift, employers need dynamic workforce management solutions that will help them maintain compliance and flexibility while engaging their employees," said Maria Black, president and CEO of ADP. "We are excited to welcome the WorkForce Software team to ADP and will leverage the deep expertise across both teams to further innovate and address the many unique and wide-ranging needs of our clients."
Founded in 1999 and headquartered in
WorkForce Software's solutions adapt to an organization's needs, and can accommodate unique pay rules, labor regulations, and schedules. Whether employees are deskless, hourly, unionized, full-time, part-time, or seasonal, WorkForce Software has focused on offering tools that create resiliency, drive optimal performance and make managing a global workforce easy.
"The WorkForce Software team is thrilled to join ADP," said Jeff Moses, CEO of WorkForce Software. "For 25 years we have led the way in developing workforce management solutions that enable many of the world's most innovative organizations to optimize their workforce, protect against compliance risks, and increase employee engagement. Now, with the extensive expertise, resources and global reach of ADP, this winning formula will help us deliver an employee experience for the future through powerful, enterprise-grade workforce management solutions."
About ADP
Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com.
Safe Harbor Statement
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 "outlook," "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could," "is designed to" and other words of similar meaning, are forward looking statements. These statements are based on management's expectations and assumptions and depend upon or refer to future events or conditions 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 or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; the success of our new solutions; our ability to respond successfully to changes in technology, including artificial intelligence; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends and inflation; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; availability of skilled associates; the impact of new acquisitions and divestitures; the adequacy, effectiveness and success of our business transformation initiatives; the impact of any uncertainties related to major natural disasters or catastrophic events; and supply-chain disruptions. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and in other written or oral statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein.
ADP, the ADP logo, and Always Designing for People, are trademarks of ADP, Inc. All other marks are the property of their respective owners. Copyright © 2024 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.
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