Robert J. Murray

GROTON, MA—New England Business Service (NEBS) has entered into a strategic alliance with Advantage Business Services Holdings, reportedly the fifth largest payroll processing company in the U.S. Under the agreement, NEBS will market payroll services to small businesses throughout the United States, and Advan- tage will provide the fulfillment of these services. As part of this alliance, NEBS has acquired a minority equity interest in Advantage. NEBS has purchased 10 percent of the common stock of Advantage for approximately $13 million in cash, and has also obtained incentive-based warrants, potentially to double that position over the next five years. NEBS will market payroll

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