ADP Buying Cobalt Group for $400 Million
Automatic Data Processing (Nasdaq: ADP) has agreed to acquire The Cobalt Group, a Seattle-based provider of digital marketing solutions auto manufacturers and auto dealers. The deal is valued at approximately $400 million in cash, and is expected to close within the next two weeks. Cobalt Group was taken private by Warburg Pincus in 2001, and since has raised around $85 million from Warburg, ABS Capital Partners and Oak Investment Partners.
12 July 2010•4 mins read
