ROSELAND, New Jersey -- November 29, 2006 -- ADP® Employer Services, a division of Automatic Data Processing, Inc. (NYSE: ADP), a leader in HR, payroll and benefits administration solutions, today announced it has completed the acquisition of Taxware, LP from First Data Corp. (NYSE:FDC).

 

"This acquisition builds on our strong position in tax compliance services and is another milestone in ADP Employer Services' growth strategy," said Gary C. Butler, ADP's president and chief executive officer. "We have acquired a product suite very close to the core of our existing services and extremely beneficial to our client base. Taxware broadens our bundled solutions for new clients and will be strategically and efficiently leveraged across our powerful sales distribution channel."

 

ADP announced in October that it had entered into a definitive agreement with First Data Corp. to acquire Taxware, LP for approximately $125 million in cash. For more than 25 years, Taxware's products have simplified the tax calculation and compliance process with solutions for sales, use, value added and other consumption taxes for businesses in the United States and around the globe.

 

The Taxware acquisition is the company's second tax-related acquisition in the last three months. In August, ADP announced the acquisition of Mintax, which secures tax credits and economic incentives for corporate clients. This is the fourth ADP Employer Services acquisition announced in the last three months as part of the company's vision to expand its services offerings and fuel future growth.

 

For information on ADP Taxware products, please call 877-TAXWARE (829-9273).

 

About ADP

Automatic Data Processing, Inc. (NYSE: ADP), with nearly $9 billion in revenues and more than 570,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. Employer Services (ES), a division of ADP, offers the widest range of HR, payroll, and benefits administration solutions from a single source, to meet the extensive business needs of employers worldwide. Built with more than 50 years of industry experience, ADP ES' cost-effective, easy-to-use solutions provide superior value to companies of all sizes. Approximately 540,000 companies rely on ADP ES for unparalleled service and compliance expertise, allowing them to focus on other core activities. For more information about ADP ES or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com.

 

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