Administaff buys ExpensAble
Administaff Inc. has acquired OneMind Connect Inc., a privately held company based in Irvine, Calif.
Kingwood-based Administaff (NYSE: ASF) did not disclose how much it paid for the company, which does business under the trade name ExpensAble.
ExpensAble offers expense report management solutions and has more than 5,000 customers around the world. The firm’s current management and staff will continue to oversee operations, and the company will continue to operate under the ExpensAble name.
“ExpensAble represents a strong addition to our growing line of SaaS (Software as a Service) products that offer a compelling value proposition to businesses looking to improve productivity and profitability,” said Paul Sarvadi, chairman and chief executive officer of Administaff, a provider of human resources services payday loans for bad credit.
Earlier this year, Administaff announced it would lay off about 95 people, or 5 percent of its work force.
Filed under: business by Wolf