Automatic Data Processing (ADP) has entered into an agreement to sell its Claims Service business (CSG) to Solera.
Solera, a consulting, outsourced services, and strategic technology solutions company focused on the claims process, was formed in partnership with GTCR Golder Rauner, LLC, a private equity firm.
Arthur Weinbach, chairman and chief executive officer of ADP said: "Given the size of CSG relative to our other core businesses, and with the current favourable M&A market conditions, it was timely to sell."
ADP said it expects the transaction to close within 90 days.
