Transaction

Transaction Details

Closed
January 19, 2018

Sector

Financial Technology, Software, Tech-Enabled Services, Technology

Deal Type

Mergers and Acquisitions

Deal Value

N/D

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GCA Advises WorkMarket on Its Sale to ADP

GCA Advisors is pleased to announce we acted as exclusive financial advisor to WorkMarket, a leading cloud-based workforce management solution provider that allows companies to build and manage an integrated workforce across W-2 employees, 1099 contractors, vendors and other types of workers, on its sale to ADP (NASDAQ: ADP).

Founded in 2010 and headquartered in New York City, WorkMarket is backed by Union Square Ventures, SoftBank Capital, Spark Capital and Foundry Group, as well as Accenture Ventures. WorkMarket helps its clients manage their integrated workforce in a simple, secure and compliant manner. The company’s innovative solutions include tools to source and vet independent workers, manage their engagements, and pay and evaluate these workers. In addition to offering robust freelancer management functionality, WorkMarket has extended its capabilities to help clients optimize how work gets done across any labor type. The company’s client base spans global brands, as well as small and mid-sized businesses.

Automatic Data Processing, Inc. (“ADP”) provides cloud-based human capital management solutions for 700,000 clients around the world. One of the largest providers of HR services in North America, Europe, Latin America and the Pacific Rim, the company’s comprehensive recruit-to-retire services are used by more than 70% of Fortune 500 companies.

The acquisition expands ADP’s portfolio of payroll and human capital management solutions and provides its client base with tools to manage and have insights into the modern workforce.

Terms of the transaction have not been disclosed.

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