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Non-Tech : Automatic Data Processing (ADP)

ADP 260.30

-0.5%

Oct 31 9:30 AM EDT

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From: JakeStraw	7/9/2010 9:58:09 AM
	of 70

ADP to Acquire Cobalt, Leading Provider of Digital Marketing Solutions for the Automotive Industry finance.yahoo.com Cobalt is the leading provider of digital marketing solutions to automotive manufacturers and dealers in North America. This transaction aligns with ADP Dealer Services' global layered applications strategy to increase "share of wallet" beyond its core dealer management system offering. We believe the timing of this transaction is optimal as online advertising spend is expected to continue to outpace that of traditional channels in the U.S." Cobalt is privately held and headquartered in Seattle, Washington. ADP expects the transaction to be slightly accretive in the first year, with continued positive earnings contributions anticipated in subsequent years.

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