Automatic Data Processing
ADP, LLC., is an American provider of business outsourcing solutions. ADP was formerly one of four American companies to get a AAA credit rating from Standard & Poor's (S&P) and Moody's, but S&P and Moody's downgraded ADP to AA in April 2014, after the dealer services unit spin off.
History
In 1949 Henry Taub founded Automatic Payrolls, Inc. as a manual payroll processing business with his brother Joe Taub. Frank Lautenberg joined the brothers in the company's infancy. In 1952, Lautenberg became Chairman and CEO of the company. In 1957, the company changed its name to Automatic Data Processing, Inc. (ADP), and began using punched card machines, check printing machines, and mainframe computers. ADP went public in 1961 with 300 clients, 125 employees and revenues of approximately US$400,000. The company established a subsidiary in the United Kingdom in 1965 and acquired the pioneering online computer services company Time Sharing Limited (TSL) in 1974. Lautenberg continued in his roles as Chairman and CEO until elected to the United States Senate from New Jersey in 1982.