Products June 6, 2002

ADP Acquires Employee Screening Firm

June 18, 2001 (PLANSPONSOR.com) - In a move that links two key human resource support functions, Automatic Data Processing Inc (ADP) will acquire online employment screening firm Avert, for $22.00 per share in cash.
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Fort Collins, Colorado-based Avert provides employment background checks and human resource services via remote access, offering its 14,000 clients access to:

  • criminal court records,
  • driving records,
  • reference checks,
  • credit reports,
  • assessment tests

ADP’s Employers Services (ES) Division provides business administrative solutions, assisting clients in managing their internal processes, services include:

  • payroll,
  • tax regulatory management,
  • HRMS, benefits administration,
  • time and labor management,
  • retirement plan services,
  • online recruiting, and
  • pre-employment screening.

The deal values the common shares of Avert on a fully-diluted basis at approximately $81 million and represents a 25.7% premium to Avert’s closing price of $17.50 on June 15, 2001 and a 34.6% premium to the average 60 trading day closing price before this announcement.

The deal, subject to Avert shareholder and regulatory approvals, is expected to close this summer.

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