Ceridian sells off SourceWeb assets

Von Computerworld staff

Ceridian Corp. last week said that it has sold certain customer relationships and other assets associated with its SourceWeb payroll platform to RSM McGladrey Employer Services Inc. Ceridian had earlier blamed the SourceWeb system for cutting into its 2003 and 2004 profits. Ceridian will take a 2004 fourth-quarter charge of about US$31 million, the amount of cash it received in the deal.