NEBS to Market Advantage Payroll Services
Additionally, NEBS, Groton, MA, said it acquired a 10 percent stake in the Auburn, ME, payroll services company for $13 million in cash and obtained incentive-based warrants to potentially double that position during the next five years. APS said it is one of the five largest payroll service providers in the country, with 25,000 clients in 26 states.
NEBS, which primarily markets printed business forms, office supplies and similar products for small businesses through catalogs and other means, said it has tested offering payroll services in the past. The alliance is one of several the company has made in recent months to offer more services to its 2.5 million-member customer database. Other third-party services the company recently began offering include online accounting and Web-site creation.