ADP Plans To Buy Investment Software; Ark To Convert

DATA CONSUMERS

ADP has signed a letter of intent to purchase Investment Software Systems Inc. (ISS), a Littleton, Mass.-based software vendor that primarily develops and markets news processing and news management services for buy-side institutions. Meanwhile, in a separate deal -- driven by the impending purchase of ISS -- Ark Asset Management Co. has decided to switch from its Shark Information Services Corp.- supplied retail quote service to ADP's FS Partner platform to support its traders and portfolio

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