ADP (ADP) Tops Q2 EPS by 5c; Updates FY17 Outlook
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WageWorks (WAGE) to Acquire ADP's (ADP) CHSA, COBRA Businesses
November 1, 2016 4:57 PM EDTWageWorks, Inc. (NYSE: WAGE) announced it has signed definitive agreements to acquire Automatic Data Processing Inc.s (Nasdaq: ADP) Consumer Health Spending Account (CHSA) and Consolidated Omnibus Reconciliation Act (COBRA) businesses. This transaction is expected to close by the end of November, 2016 and further strengthens WageWorks' leadership position in the Consumer-Directed Benefits market.
ADPs CHSA and COBRA businesses provide a range of services including HSA, HRA, FSA, commuter benefits, COBRA, and direct bill administration to approximately 10,000 employer clients in the United... More
