Ceridian

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Ceridian Corporation
TypePrivate
IndustryInformation services
Founded1992
HeadquartersBloomington, Minnesota, USA
Key peopleDavid Ossip, CEO of Ceridian HCM
ProductsGlobal human capital management, workforce management, payroll, payroll tax services, employee benefits administration, employee assistance programs, corporate health and productivity
RevenueIncreaseUS$1.53 billion (2011) [1]
Employees5,000+ (2013)
Websitewww.ceridian.com
 
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Ceridian Corporation
TypePrivate
IndustryInformation services
Founded1992
HeadquartersBloomington, Minnesota, USA
Key peopleDavid Ossip, CEO of Ceridian HCM
ProductsGlobal human capital management, workforce management, payroll, payroll tax services, employee benefits administration, employee assistance programs, corporate health and productivity
RevenueIncreaseUS$1.53 billion (2011) [1]
Employees5,000+ (2013)
Websitewww.ceridian.com

Ceridian HCM, Inc. is a global provide of human resources solutions with employees in the USA, Canada, Europe and Mauritius. It was a publicly traded company on the New York Stock Exchange until it was acquired in 2007 by Thomas H. Lee Partners and Fidelity National Financial.[2][3]

History[edit]

Ceridian is a descendant of Control Data Corporation (CDC). In 1992, Ceridian emerged as an information services company from the restructuring of CDC, a computer services and manufacturing company founded in 1957. Since its formation, Ceridian has made a number of significant investments including the purchase of Centrefile (now Ceridian in the UK) in 1995, the largest outsourced payroll processing business in the United Kingdom.

In 2007 Ceridian was acquired for US$5.3 billion by Thomas H. Lee Partners and Fidelity National Financial (FNF). Ceridian common stock ceased trading on the NYSE before commencement of trading on 9 November 2007 and was delisted from the NYSE. William Foley, chief executive and chair at FNF, said: "Ceridian provides FNF with a company that has leading market positions in large, growing markets, long-term customer relationships, recurring revenue, strong cash flow and a significant margin expansion opportunity."[4]

In March 2012, Ceridian completed its acquisition of Dayforce, a single SaaS application for HR, payroll, tax, benefits, workforce management, talent management and several related activities.[5]

In October 2013, Ceridian announced the complete legal separation of its Human Capital Management (HCM) and Payments businesses. Ceridian completed the separation on October 1, 2013 through a series of transactions that resulted in the Payments business being operated as Comdata Inc. (“Comdata”), and the HCM business being operated as Ceridian HCM Holding Inc. (“Ceridian HCM”).

Stuart C. Harvey, Jr. serves as Chairman of the Board for both Comdata and Ceridian HCM, as well as remaining as the Chief Executive Officer of Comdata. David Ossip remains Chief Executive Officer of Ceridian HCM. Majority owners and financial partners, funds affiliated with Thomas H. Lee Partners, L.P. and Fidelity National Financial, Inc. remain the same for both Comdata and Ceridian HCM.

Organization[edit]

Ceridian serves more than 100,000 clients in over 50 countries, including over 75% of the Fortune 500 and 50% of the Financial Times Global 500.[6]

Kathryn Marinello was appointed President and Chief Executive Officer when Ronald L. Turner retired on 1 October 2006.

Effective 25 January 2010, Kathryn Marinello was replaced on an interim basis by Lee Kennedy, 59, a current member of the company's board of directors and vice chairman of Fidelity National Information Services Inc.[7]

Stuart C. Harvey, Jr. became President and Chief Executive Officer of Ceridian effective 16 August 2012.

Ceridian-UCLA Pulse of Commerce Index[edit]

Ceridian no longer runs the monthly Pulse of Commerce Index

Ceridian’s monthly Ceridian-UCLA Pulse of Commerce Index (PCI) was based on an analysis of real-time diesel fuel consumption data from over the road trucking tracked by Ceridian Corporation. Ceridian produced the index in conjunction with UCLA Anderson School of Management and Charles River Associates. It mirrors closely the Federal Reserve’s Industrial Production Index but is issued days before that index is released.

The index was built by analyzing Ceridian’s electronic card payment data that captures the location and volume of diesel fuel being purchased by over the road trucking operations, providing a detailed picture of the movement of products across the United States. The PCI also provided a regional breakdown based on the nine U.S. Census regions.

External links[edit]

References[edit]

  1. ^ Facts & Figures | Corporate Information. Ceridian (1999-02-22). Retrieved on 2013-07-17.
  2. ^ "Ceridian agrees to 5.3 bln usd all-cash buyout deal". forbes.com. 2007-05-31. Retrieved 2008-01-26. [dead link]
  3. ^ Berenson, Alex (2007-05-31). "Ceridian to Be Taken Private in $5.3 Billion Deal". The New York Times. Retrieved 2008-01-26. 
  4. ^ "Human resources service provider Ceridian starts work under owners Fidelity National Financial and Thomas H Lee in £2.6bn deal". personneltoday.com. 2007-11-14. Retrieved 2008-01-26. 
  5. ^ . 2012-03-13 http://www.talentmanagementtech.com/blog/ceridian-dayforce-hr-tech-nexus.  Missing or empty |title= (help)
  6. ^ / The world's largest companies / FT 500 - FT 500 methodology and background. Ft.com (2007-06-29). Retrieved on 2013-07-17.
  7. ^ "Ceridian CEO departs without explanation". Minneapolis Star Tribune. 2010-01-25.