Roseland, N.J. — March 8
ADP, a provider of human resource outsourcing services, announced it has entered into an agreement to acquire the human resource services subsidiary of SHPS Inc., a benefits administration services provider.
Based in Louisville, Ky., SHPS Human Resource Solutions offers services that include benefits eligibility and enrollment, spending accounts, COBRA, absence management, benefits advocacy and print and fulfillment. The acquisition will enable ADP to continue to enhance its benefits offering while expanding its capabilities in absence management and reimbursement services.
Closing of the acquisition is expected in the first quarter 2012 and is subject to customary closing conditions. Terms of the agreement were not disclosed.
Source: Automatic Data Processing Inc.