Automatic Data Processing Buys Pequity; ADP Stock Down In Pre-Market
(RTTNews) - Automatic Data Processing, Inc. (ADP), an HR and payroll solutions provider, said on Wednesday that it has acquired Pequity, a compensation management software provider.
This acquisition will broaden the tools that ADP offers to support the compensation planning needs of its mid-size, enterprise and multinational clients.
"Pequity's flexible configurations, AI-enhanced insights, budgeting and scenario planning tools, and HCM ecosystem integrations will broaden the compensation management capabilities ADP offers to support the needs of its enterprise and global clients," the company said.
ADP was down by 3.44% at $270 in the pre-market trade on the Nasdaq.
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