Mergers and Acquistions News
Categories: Software
June 22nd 2011, 15:21PM
Tax software service CorpSmart was in the spotlight this week, after it was confirmed that Thomson Reuters had struck a deal to acquire it from Deloitte.
The purchasing company, which has not revealed the details of the transaction, said the South African acquisition will be integrated into an existing suite of tax and accounting solutions in a bid to expand this part of the business.
CorpSmart provides multinational companies based in South Africa with intelligence corporate compliance software, which helps them to prepare monthly, quarterly and annual income tax computations and file tax returns.
Brian Peccarelli, president of the tax and accounting business at Thomson Reuters, said: "South Africa has created an impressive financial and regulatory structure to position itself as the singular hub for the continent, and as such, it rightly has the focus of multinational corporations and other major economic entities around the world."
This is the latest in a string of acquisitions for Thomson Reuters, which has taken over nine other companies in the past two years.
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