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Automatic Data Processing Inc. (NASD: ADP) acquired Ma Foi Consulting Solutions Ltd., a payroll business that is part of Ma Foi Randstad, an Indian subsidiary of Randstad Holding NV. The terms of the transaction were not disclosed. ADP is a Roseland, N.J.-based provider of payroll services and professional employer organization services.
Ma Foi Consulting Solutions offers managed payroll services and social benefits administration to approximately 350 multinational and domestic clients. As part of the transaction, ADP will take on a team of over 200 new associates.
Rahul Goyal, President of Ma Foi Consulting Solutions, will continue to manage the business for ADP.
Randstad reported the sale of the payrolling business will allow Ma Foi Randstad to focus on its core activities in India, which include search and selection, staffing and human resources services.
Separately, Randstad also announced the sale of its Select Vedior business in Angola to the division’s management.