NEW YORK--Oct. 22, 2001--ADP Investor Communication Services, a division of Automatic Data Processing's Brokerage Services Group, announced today the acquisition of the output services business of IBM Global Services.
With locations in Texas and Ohio, the output services group specializes in printing and distributing financial communications.
Terms of the transaction were not disclosed.
ADP was attracted to IBM's high-quality print operation because of the perfect fit it makes with ADP's statement output services. Enhancing its statement solutions in recent years, ADP has utilized some of IBM's high-performance, feature rich print systems to incorporate variable content, highlight color and performance graphs; all components that help communicate with investors on a highly personal level. These high impact statements are increasingly in demand as financial managers try to remain competitive by delivering superior customer service.
As part of this deal, IBM will provide IT outsourced services to ADP. By combining the IBM data infrastructure with ADP's innovative document management practices, ADP now has extraordinary statement output capacity to successfully serve its existing and newly acquired clients.
"IBM's output services group and ADP Investor Communication Services share almost identical core competencies, and have both successfully practiced production and distribution principles that result in advanced document output,'' says Rich Daly, President of ADP ICS. "This transaction will expand our family of associates and clients, and strengthen ADP's position as a market leader in statement production and distribution.''
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