CBIZ Acquires Compudata, Inc.; Financial Terms Of Transaction Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
CBIZ, Inc. (NYSE:CBZ), a leading provider of financial, insurance, and advisory services, has announced the acquisition of CompuData, Inc., a technology solutions provider based in Philadelphia, PA, effective March 1, 2024. CompuData specializes in cloud computing, accounting ERP software, managed IT, and security services, boasting a Sage Diamond Partner and Microsoft Partner designation. The acquisition is aimed at enhancing CBIZ's service offerings in response to growing demand for technology solutions. Financial terms of the transaction were not disclosed.
March 06, 2024 | 9:26 pm
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CBIZ's acquisition of CompuData, Inc. is expected to strengthen its technology solutions offerings, potentially increasing its market competitiveness and customer base.
The acquisition of CompuData by CBIZ is likely to have a positive short-term impact on CBZ's stock price due to the strategic expansion of its service offerings in technology solutions, which is in high demand. This move could enhance CBIZ's competitive edge in the market and attract more customers, potentially leading to increased revenue. The positive reception of this strategic acquisition by investors and the market could drive up CBZ's stock price in the short term.
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