Software specialist OneClickHR has received a £15.6 million cash offer from US payroll processing giant ADP Inc.

Software specialist OneClickHR has received a £15.6 million cash offer from US payroll processing giant ADP Inc.

Pitched at 10.5p a share, the offer represents a fairly modest 13 per cent premium to AIM-listed OneClickHR’s average share price over the last three months and is also below the 11.25p five year high reached in September. However, OneClick’s board of directors and shareholders, together speaking for approximately 66.9 per cent of the company’s shares, are supporting the deal.

Says OneClick’s CEO and co-founder Frank Beechinor: ‘The combination of the ADP and OneClickHR businesses is an excellent business fit which will benefit customers and staff of OneClickHR and represents good value for shareholders.’
OneClick originally floated at 45p during the dotcom boom in 2000 but fell to much lower levels after that bubble burst.