(Bloomberg) -- Automatic Data Processing Inc., the human-resources software provider, is in talks to buy WorkForce Software for about $1.2 billion, people familiar with the matter said.

Most Read from Bloomberg

• NJ Transit, Amtrak Trains Delayed After Derailment Near NYC

• Where Cargo Bikes Are Freeing Cities From Polluting Vans

• Exclusive Palo Alto Girls School Borrows $106 Million

• Eric Adams' Vanishing Promise to Fix NYC's 'Unfair' Property Taxes

• Waiting for the Miracle of Church-to-Housing Development

ADP could announce a deal to acquire the Livonia, Michigan-based company from its backers including Elliott Investment Management and Insight Partners in the coming weeks, according to the people.

While talks are advanced, they could still be delayed or falter, the people said, asking to not be identified because the discussions aren’t public.

Representatives for ADP and Insight declined to comment. Representatives for WorkForce Software and Elliott didn’t immediately respond to requests for comment.

Founded in 1949, ADP handles paychecks for one out of every six workers in the US, according to its most recent annual report. The company has been extending its reach to provide a broad range of so-called human-capital management amid intense competition from payroll providers like Paycor and Paylocity.

WorkForce Software helps companies manage bespoke payroll needs, such as helping workers swap paid time off to colleagues, or paying people time-and-a-half when they sleep in after a long shift, according to its website.

Elliott’s private equity affiliate announced a “significant equity investment” in WorkForce Software in 2019, becoming an “equal partner” in the company alongside Insight, its owner since 2014, according to a statement at the time.

ADP fell 0.5% to close at $275.25 in New York trading Wednesday, giving the Roseland, New Jersey-based company a market value of about $112 billion.

--With assistance from Liana Baker.

Most Read from Bloomberg Businessweek

• Inside Activision and Blizzard’s Corporate Warcraft

• This Camera Went Viral Two Years Ago. You Still Can’t Buy One

• Palantir’s CEO and Wall Street Annoy Each Other Straight to the Bank

• Five Reasons to Be Optimistic About the Entertainment Business

• An Incomplete Guide to Elon Musk’s Feuds

©2024 Bloomberg L.P.