US-based Automatic Data Processing, Inc. has acquired the Indian payroll business of Randstad Holding NV from its Indian subsidiary Ma Foi Randstad for an undisclosed sum to access the high-growth human resources BPO markets, the company has said in a statement today.
“This acquisition supports ADP’s broader strategy to expand its global footprint in human resources business process outsourcing (HR BPO) across large and developing markets,” ADP, a provider of human resource outsourcing, payroll, tax and compliance services, said in a statement.
“ADP’s acquisition of Ma Foi Consulting Solutions Ltd gives us a direct presence in the large and developing Indian market for HR BPO. This acquisition also enhances our ability to meet the requirements of our large multinational clients with operations in India, whom we serve through our ADP Streamline and GlobalView solutions,” said Mark Benjamin, president of ADP Employer Services International.
South India-based human resource services firm Ma Foi Consulting Solutions offers managed payroll services and social benefits administration to approximately 350 multinational and domestic clients. The company was acquired by Vedior in 2004 and was subsequently taken over by Dutch giant Randstad a little over three years ago.
As part of this transaction, ADP would take on a team of over 200 new associates. Rahul Goyal, president of Ma Foi Consulting Solutions, would continue to manage the business for ADP, the statement said.
Incorporated in 1949 and headquartered in Roseland, New Jersey, ADP operates across three segments – employer services, professional employer organisation services and dealer services – with revenue of $10 billion and servicing 570,000 clients.