ROSELAND, N.J. -- Automatic Data Processing Inc. said it has completed the previously announced acquisition of the assets and liabilities of BankAmerica Corp.'s business services division for about $200 million in cash.
ADP said the purchase price includes the payroll processing and payroll-tax-filing business of BankAmerica as well as an ongoing marketing relationship between the companies.
The BankAmerica division reportedly has about 17,000 clients and annual revenue of $125 million.