Monday, August 16, 2010

Cobalt Now Part Of ADP

Automatic Data Processing said today that it has completed its $400M cash acquisition of Seattle-based Cobalt. Cobalt provides marketing software for auto dealerships and manufacturers. ADP said it would acquire Cobalt on July 9th, adding Cobalt's offerings to its ADP Dealer Services offering. ADP said the acquisition will be "slighly accretive" in the first year, with positive earning contributions anticipated in subsequent years.