ADP Unloads Tax Software Unit In Deal With Vista Equity

Law360, New York (November 6, 2012, 4:17 PM EST) -- Business software solutions provider Automatic Data Processing Inc. will hand off its tax compliance unit to technology-focused private equity group Vista Equity Partners, the pair said Tuesday.

Financial terms of the deal were not disclosed. ADP generates $10 billion in revenues annually, but it was unclear how big a slice comes from the New Hampshire-based Taxware subsidiary. Vista typically pours at least $20 million — but up to more than $500 million — into its investments.

San Francisco-based Vista did not break down its financing plans,...
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