ROSELAND, N.J. (AP) — Payroll processing company Automatic Data Processing Inc. said Tuesday that it completed its acquisition of the human resources subsidiary of SHPS Inc., an employee benefits administration company.
Financial terms were not disclosed.
Roseland, N.J.-based ADP already provides some human resources services for companies that outsource the work. ADP said that buying the SHPS Human Resource Solutions division will broaden the array of services ADP can offer.
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Adding the new division will allow ADP to offer more services like absence management systems, reimbursement systems and the management of flexible spending accounts and health savings accounts.
Privately held SHPS Human Resource Solutions is based in Louisville, Ky.
In morning trading, ADP shares fell 4 cents to $55.90. Its shares have traded in a 52-week range of $44.72 to $57.10.
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