Dublin-based payroll outsourcing company Softcom Ireland has been acquired by ADP, a US payments processing multinational. Terms of the deal were not disclosed.

Softcom was founded in 1996 and is headed up by managing director Gerry Reidy, who owns 50% of the shareholding. Patricia Reidy (30%) and Patrick Reidy (20%) were the firm’s other shareholders prior to the ADP sale.

Softcom provides managed payroll services, human resource management, online payslips and P60 solutions to clients in the Irish and UK markets. Customers include TNT and HEAnet.

The business booked a profit of €1.5m in 2017 and had year-end cash of €6.8m. Net worth at end 2017 was €6.1m. Softcom had 42 staff on its payroll in 2017 and directors’ remuneration for the three shareholders totalled €435,000.

ADP is headquartered in New Jersey and has been in operation for more than 70 years. The company’s services include payroll management, HR outsourcing and compliance automation, with clients in 140 countries.

In Association with

ADP and Softcom operated partnerships together for several years prior to the acquisition, according to Don McGuire (pictured), president of employer services international at ADP.

“On the heels of the acquisition of Celergo and other key investments we’ve made, the addition of Softcom further strengthens the support we give our clients,” McGuire added.

“Softcom built its reputation, much like ADP, on the values of initiative, innovation and teamwork, and we are thrilled to welcome the talented team to ADP.”