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UK — Cash offer for OneClickHR by ADP Network Services

16 December 2009

The boards of ADP Network Services Limited, an indirect wholly-owned subsidiary of Automatic Data Processing Inc. (ADP:NSQ) and OneClickHR Plc., have reached agreement on the terms of a recommended cash offer by ADP network for the entire issued and to be issued share capital of OneClickHR.

Automatic Data Processing, the US payroll processing company will pay 10.5 Pence for each share of OneClickHR, the British provider of software to the Human Resources sector. This represents a 9% premium to the closing price on Monday and values OneClickHR at 15.6 million Pounds.

 
OneClickHR Chief Executive Frank Beechino-Collins, said in a statement "the combination of ADP Network Services and OneClickHR is an excellent business fit which will benefit customers and staff of OneClickHR and represents good value for shareholders."

ADP Network Services MD, Don McGuire, said "I am truly very excited about this transaction and look forward to welcoming OneClickHR to the ADP family and growing the combined business in the years to come."

 

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