Automatic Data Processing Inc, of Roseland, New Jersey, is to sell its banking information services business, ADP-BIS, to an affiliate of investment firm Welsh, Carson, Anderson & Stowe on undisclosed terms: based in Houston, the unit provides financial data processing bureau services to about 240 commercial banks and savings institutions and employs about 340 people: the proceeds will go towards buying payroll bureau neighbour Automatic Business Centers Inc for an undisclosed cash sum; the target does payroll for some 11,000 companies.
