CBIZ ACQUIRES COMPUDATA, INC.

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Mar 06, 2024, 16:05 ET

CLEVELAND, March 6, 2024 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading provider of financial, insurance and advisory services, announced today it has acquired technology solutions provider, CompuData, Inc. (CompuData), of Philadelphia, PA, effective March 1, 2024.

Founded in 1971, CompuData is a premier technology solutions provider for small and midsize organizations. They provide cloud computing, accounting ERP software, managed IT and security to clients with the tools to scale, protect, and streamline their organizations. CompuData is a Sage Diamond Partner and has Microsoft Partner designation in both Azure Cloud and Modern Work. The firm has 60 employees and approximately $20 million in annual revenue.

Jerry Grisko, President and CEO of CBIZ, said, "We have experienced an increasingly high demand across the country for precisely the suite of services that CompuData has built an impressive reputation providing. In the CompuData team, we have found a partner that is equally invested in and dedicated to its clients' success by offering essential solutions that they rely on. For these reasons and more, we are thrilled to welcome CompuData to CBIZ."

Angela Nadeau, President and CEO of CompuData, stated, "Our entire team is very excited to join forces with such a strong and nationally recognized partner such as CBIZ. Our industry verticals, including financial services, construction, manufacturing, distribution, and technology, align extremely well. We see great opportunity and expect our partnership to be mutually beneficial to our valued employees and clients."

About CBIZ
CBIZ, Inc. is a leading provider of financial, insurance, and advisory services to businesses throughout the United States. Financial services include accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 120 Company offices in 33 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S. For more information, visit www.cbiz.com.

Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the risk that the anticipated benefits and perceived advantages of the acquisition may not be achieved; the risk that the transaction will disrupt the Company's current plans and operations or CompuData's current plans and operations as a result of the consummation of the transaction; the inability to successfully integrate the operations and employees of ComputData into the Company; unanticipated costs related to the transaction; and other risks and uncertainties found in the Company's filings with the Securities and Exchange Commission. Detailed descriptions of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov.

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