Thomson acquires Deloitte US
property tax business

Information solutions provider Thomson is acquiring the Deloitte
US property tax services (PTS) business.

Thomson has signed a definitive agreement to acquire the
division. The closing of the acquisition is subject to a number of
customary conditions, including regulatory approvals. Financial
terms of the transaction have not been disclosed.

The PTS business employs more than 420 professionals. It is a
national provider of property tax compliance outsourcing and
consulting services, such as real estate appeals and complex
property valuation.

When the acquisition is complete, PTS will merge with Thomson’s tax
and accounting segment. The segment provides technology and
integrated information solutions to accounting, tax and corporate
finance professionals in accounting firms, corporations, law firms
and government.

Thomson revealed that the acquisition will enable it to expand its
offering to its clients and to “provide the breadth and depth of
compliance software and services they need to address all types of
property tax issues”.

PTS was part of Deloitte’s tax division. Deloitte tax chairman and
chief executive Chet Wood said the tax group “realised that PTS
could best be served by a leading industry provider of tax and
accounting software and service solutions.

“Thomson tax and accounting offers the best solution and vision for
growing the property tax business and investing further in PTS and
its people.”

Thomson tax and accounting president and chief executive Roy Martin
said: “We believe this will be an extraordinary opportunity for
Thomson tax and accounting to combine the expertise of the PTS
national network of providers with our own innovative ePropertyTax
software and services to provide a broader, richer offering to the
clients we both serve today.”

Thomson tax and accounting corporate software and services
president Brian Peccarelli added that the transaction “will further
enable us to fulfil Thomson tax and accounting’s overall growth
strategy”.