WageWorks (WAGE) to Acquire ADP's (ADP) CHSA, COBRA Businesses
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WageWorks Acquires ADP’s Consumer Health Spending Account and Consolidated Omnibus Reconciliation Act Businesses to Further Its Leadership Position in Consumer-Directed Benefits
November 1, 2016 4:15 PM EDTSAN MATEO, Calif., Nov. 01, 2016 (GLOBE NEWSWIRE) -- WageWorks, Inc. (NYSE: WAGE), a leader in administering Consumer-Directed Benefits (CDBs), today 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,... More
