San Ramon, Calif.-based ADP Claims Services Group, a division of Automatic Data Processing Inc. has entered into a definitive agreement to acquire ABZ Group B.V., a privately held company in the Netherlands, Peter Op de Beeck, Division President, announced. The transaction is subject to ABZ Group B.V. shareholder approval and normal regulatory review. Completion is expected early in calendar 2004.
ABZ, located in Zeist, with revenues of approximately EUR 40 million, is a leading business service provider in the Netherlands, offering Web-based services mainly to the insurance and automotive industries. ABZ has had a long and close relationship with ADP, having been a licensee of Audatex, a subsidiary of ADP Claims Services Group, since 1981.
Commenting on the transaction, Op de Beeck said, “ABZ is a perfect strategic fit to our service activities. It consolidates our extensive relationship with them in the claims services field and opens up exciting new opportunities, in particular in the insurance industry, where ABZ has had a proven track record for identifying and developing solutions based on solid value propositions.”
“This transaction marks an important step in ABZ’s development and will create tremendous opportunities for our clients and employees. Our current shareholder-clients have made a significant contribution to our leading position and their outspoken intention to continue the close cooperation is an important starting point for future growth,” said Gerrit Schipper, CEO of ABZ.
Topics Mergers & Acquisitions Claims
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