Roseland, N.J. — Jan. 16
ADP, a provider of human resource outsourcing, payroll, tax and compliance services, announced it has acquired the Indian payroll business of Randstad Holding, 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 roughly 350 brand-name multinational and domestic clients. As part of the transaction, ADP will take on a team of more than 200 new associates.
Ma Foi and ADP have partnered in the marketing and operation of ADP Streamline service since 2009. ADP Streamline, an offering in ADP’s multinational client portfolio, is the company’s payroll service 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 across large and developing markets.