Notable Mergers and Acquisitions of the Day 11/06: (ADP) (Z) (CW)
Get Alerts ADP Hot Sheet
Price: $242.90 -0.54%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.3%
EPS Growth %: +10.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.3%
EPS Growth %: +10.7%
Join SI Premium – FREE
- Automatic Data Processing (Nasdaq: ADP) has signed a definitive agreement to sell the ADP Taxware business to Vista Equity Partners, a leading private-equity firm focused on investments in software and technology-enabled services. Terms of the sale were not disclosed.
ADP Taxware, a leading provider of automated solutions for sales, use and value-added tax compliance, is based in Salem, N.H., and serves more than 1,200 clients.
Vista invests in companies that develop and market enterprise mission-critical software, software-as-a-service, and technology-enabled business services. Vista chose to acquire Taxware because of its strong market position, product offerings, loyal and satisfied clients, and its highly talented and devoted employees. Leveraging its experience with numerous other enterprise mission critical software companies, Vista is well-positioned to help Taxware execute its growth strategy and strengthen and expand its product offerings.
The transaction, which is subject to customary closing conditions, is expected to close by Dec. 31, 2012.
- Zillow, Inc. (Nasdaq: Z), the leading real estate information marketplace, today announced it has entered into a definitive agreement to acquire Mortech, Inc. , a mortgage technology company that provides essential software tools to the mortgage industry, for approximately $12 million in cash and 150,000 shares of restricted stock. The transaction is subject to satisfaction of customary closing conditions and is expected to close in the fourth quarter of 2012.
This acquisition accelerates the development of Zillow® Mortgage Marketplace, Zillow's lending marketplace where borrowers can connect instantly with reputable lenders to get personalized loan options and real-time mortgage rates. Now Zillow will deliver valuable marketing and productivity solutions to mortgage professionals to help them manage their business, and convert more borrower contacts to funded loans. Currently on Zillow Mortgage Marketplace, borrowers submit more than 1 million loan requests per month and receive on average 25 customized quotes, which they can compare alongside over 22,000 lender reviews.
- Curtiss-Wright Corporation (NYSE: CW) has acquired AP Services, LLC, through the acquisition of all of the membership interests of A.P. Holdco, LLC, the parent company of the operating entity, for a cash purchase price of $30 million. AP Services is a leading supplier of fluid sealing technologies and services to the nuclear and fossil power generation markets, with proven performance in delivering solutions that improve plant reliability and safety, and also reduce operation and maintenance (O&M) costs. The business will become part of Curtiss-Wright's Flow Control segment.
AP Services LLC was established in 2010 by a management buyout of A.P. Services, Inc. and NGP, Inc., which were founded in 1995 and 1991, respectively. AP Services is a leading manufacturer and integrated supplier of mechanical valve and pump packing, metal and fabricated gaskets, and a wide variety of specialized fluid sealing products and services for use in the power generation, chemical, and refining industries. Its fluid leak management products and services help identify and solve critical sealing problems to improve plant reliability and safety.
Recently, AP Services introduced its web-based software SealPRO™ as a key tool to enhance plant equipment reliability and fluid leak management programs. The software allows plants to capture and share component performance data, configuration specifics, parts availability, and industry best practices across the entire fleet of nuclear and fossil power plants. Headquartered in Freeport, Pa., AP Services has 84 employees. Its 2011 sales were $23 million.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: Travelers, JB Hunt fall; United Airlines rises
- After-hours movers: United Airlines, J.B. Hunt, and more
- Midday movers: Goldman Sachs and Meta Platforms rise; Apple and Tesla fall
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Notable Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!