ADP Signs Agreement to Acquire Intuit's Fully Outsourced Payroll Business

Acquisition Complements ADP's Long-term Growth Strategy; Expands Presence in the Small Business Space Delivering Fully Outsourced Payroll Solutions

ROSELAND, N.J. & MOUNTAIN VIEW, Calif. - ADP® Employer Services, a division of Automatic Data Processing, Inc. and Intuit Inc. today announced they have entered into a definitive agreement whereby Intuit will transition its Premier customers and a portion of its Complete Payroll customers to ADP, representing up to 25,000 customers in total. These are business customers who prefer to completely outsource their payroll-related tasks to a third-party provider. ADP Employer Services is a leader in outsourced payroll, human resources and benefits administration solutions. Intuit is a leading provider of financial management software.

This strategic acquisition enables ADP to continue to grow its customer base and leverage its core competencies. "With approximately 400,000 small business clients, ADP has a long history of helping business leaders successfully grow their companies through our simple and affordable outsourced payroll and payroll-related solutions," said Alan Sheiness, president of ADP Small Business Services. "We are excited to provide these Intuit clients with the benefit of our full-service outsourcing solutions to help them meet their business goals."

"Transitioning this portion of our approximately 1 million payroll customer base to a best-in-class, fully-outsourced payroll provider allows us to focus our resources on offering easy-to-use and efficient services to customers who want to control their payroll and to those customers who want some assistance from accountants or Intuit," said Ginny Lee, vice president and general manager of Intuit’s Small Business Payroll business. "Intuit is committed to delivering world-class customer service and support." After the transaction is complete, Intuit will focus on its comprehensive portfolio of payroll services for those customers who prefer to control some or all payroll-related tasks.

Together, ADP and Intuit are dedicated to ensuring a seamless customer experience for those customers who transition.

The acquisition is subject to regulatory review and other customary closing conditions.

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