ADP acquires Ma Foi from Ranstad

Data Processing (ADP) has acquired the Indian payroll business of Randstad Holding NV from its Indian subsidiary, Ma Foi Randstad, for an undisclosed sum to access the high-growth human resources BPO markets, VC Circle reports.

“This acquisition supports ADP's broader strategy to expand its global footprint in human resources business process outsourcing (HR BPO) across large and developing markets,” ADP, a provider of human resource outsourcing, payroll, tax and compliance services, said in a statement.

According to The Economic Times, Ma Foi Consulting Solutions offers managed payroll services and social benefits administration to clients across India through a fully customised payroll engine.

"ADP's acquisition of Ma Foi Consulting Solutions gives us a direct presence in the large and developing Indian market for HR BPO. This acquisition also enhances our ability to meet the needs of our large multinational clients with operations in India," said Mark Benjamin, president of ADP Employer Services International.

Ma Foi and ADP have enjoyed a healthy business relationship since 2009 for the marketing and operations of ADP Streamline, ADP's multi-country payroll and human resource service, Zacks notes.

ADP's growth in recent years has been largely attributable to accretive acquisitions, for which it has spent approximately $776 million in 2011.