Bridge To Buy ADP's Front Office Businesses
ORGANIZATION & MANAGEMENT
NEW YORK--As exclusively predicted in Inside Market Data last week, Bridge Information Systems has signed a letter of intent to acquire the market data assets and products of Automatic Data Processing (ADP). Terms were not disclosed, but insiders put the value of the deal at around $150 million.
The acquisition, which is yet another step in a series of consolidations involving Bridge, is part of a long-term strategic alliance with ADP. The deal will give ADP a minority interest and board
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