ADP Bags Merrill Quote Contract In Wake Of IMNET Collapse; 20,000 Terminals Would Make Adp Number One In U.S.

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The Financial Information Services Division of Automatic Data Processing, Inc. is poised to become the number one quote vendor in the United States. Following the decline and fall of Imnet, Merrill Lynch bypassed its current vendor, Quotron Systems, Inc., and selected ADP-FIS to provide its next-generation financial information and branch automation system. The total value of the deal wasn't announced, but is estimated at $500-$600 million.

ADP is expected to install the first of an estimated

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