ADP acquires Randstad’s India Payroll business
Business outsourcing provider Automatic Data Processing (ADP) has acquired the Indian payroll business of Randstad Holding from its Indian subsidiary Ma Foi Randstad.
The terms of the transaction were not disclosed.
Ma Foi Consulting Solutions Ltd., the Indian company acquired by ADP from Ma Foi Randstad, offers managed payroll services and social benefits administration to clients across India through a fully customized payroll engine.
“ADP’s acquisition of Ma Foi Consulting Solutions gives us a direct presence in the large and developing Indian market for HR BPO. This acquisition also enhances our ability to meet the needs of our large multinational clients with operations in India, whom we serve through our ADP Streamline and GlobalView solutions,” said Mark Benjamin, President, ADP Employer Services International.
As part of the transaction, ADP will take over a team of over 200 new associates.
Ma Foi and ADP have partnered in the marketing and operation of ADP Streamline service since 2009. ADP Streamline is the company’s payroll solution for clients with small to mid-sized presence in multiple countries across the world.
Rahul Goyal, President, Ma Foi Consulting Solutions, who will continue to manage the business for ADP, added, “We are delighted to become a part of the ADP team. ADP has an excellent reputation and track record in the payroll and HR industry around the world. We look forward to strengthening our service offering to domestic and multinational companies operating in the Indian marketplace through increased focus and investment as a result of this strategic combination.”
ADP is worth $10 billion in revenues and has approximately 570,000 clients across the world.
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