Originally appear July 9, 2010 at 6:18 PM | Page adapted July 9, 2010 at 9:24 PM
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To aggrandize its business in the auto industry, Automatic Data Processing is affairs Seattle technology aggregation Cobalt in a banknote accord account $400 million.
ADP, a about traded aggregation based in Roseland, N.J., fabricated the advertisement Friday. The outsourcing company, which handles casework such as amount and animal assets for clients, will add Cobalt’s articles to what it already offers the auto industry.
Cobalt, a abreast captivated company, provides agenda business casework to automakers and dealers. The aggregation helps car dealers and makers ability barter online, including architecture websites, active chase and display-ad campaigns online, and administration e-mail marketing.
It additionally operates a analysis alleged Dealix, which runs the website www.usedcars.com.
About 1,000 bodies assignment at Cobalt, 750 of them in the Puget Sound region.
John Holt, arch controlling administrator of Cobalt, said the Seattle operation would abide to grow.
“This is all about growth. Agenda business in automotive is still in the aboriginal stages, and we can abound allotment and deepen our relationships at absolute customers,” he said by e-mail.
“There are activity to be some amount overlaps, but they’re not active the transaction.”
Holt said Cobalt will abide to recruit for jobs in Seattle.
He added in the agenda that he will advance agenda business for ADP’s banker services, and the accepted Cobalt administration would remain.
“Our ambition is to accept how a dollar spent on announcement turns into a dollar becoming for our OEM [manufacturers] and banker customers,” Holt said in his note.
“We’re in the third inning of a nine inning bold proving this, so there’s lots of acceptable assignment ahead.”
He expects the transaction to abutting in the third division of this agenda year.
ADP will accumulate the Cobalt and Dealix cast names.
Holt co-founded Cobalt in 1995 by architecture websites and software for auto dealers.
The aggregation went accessible in 1999, afresh clandestine afresh in 2001.
It aftermost aloft $47 actor in adventure allotment in 2004.
ADP will authority a appointment alarm for analysts at 1 p.m. Monday to altercate the banking appulse of the merger.
Sharon Pian Chan: 206-464-2958 or [email protected]
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