Summary
This 8-K filing by Automatic Data Processing, Inc. (ADP) reports the completion of a significant acquisition on November 1, 2004. ADP Atlantic, Inc., a subsidiary of ADP, successfully acquired all outstanding shares of Fleet Securities Inc. and certain assets and liabilities from the BrokerDealer Services division of Banc of America Securities LLC. This acquisition was initially announced on June 22, 2004, and its completion marks a strategic move by ADP to expand its operations. Investors should note this development as it represents a material change in the company's structure and potentially its future revenue streams and market positioning.
Key Highlights
- 1Completion of acquisition of Fleet Securities Inc. by ADP Atlantic, Inc. on November 1, 2004.
- 2Acquisition also includes specific assets and liabilities from Banc of America Securities LLC's BrokerDealer Services division.
- 3The transaction was initially announced on June 22, 2004.
- 4ADP Atlantic, Inc. is a Delaware corporation and a subsidiary of Automatic Data Processing, Inc.
- 5Fleet Securities Inc. is a New York corporation.
- 6The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
- 7Karen E. Dykstra, Chief Financial Officer, signed the report on behalf of ADP.