Desktop Data is acquiring Automatic Data Processing's news integration unit, ADP/ISS, for an undisclosed sum. Following the deal's completion, the merged entity will be renamed Newsedge Corp. and have 400 employees and annual sales of $75 million.
The deal is actually taking place in two stages, with ISS' management buying the unit back from ADP, which had acquired Investment Software Systems three years ago. One of the terms of ADP's acquisition provided the three founders of ISS the option
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails