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Article: United Kingdom: Thomson expands in tax software with Abacus.

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TendersInfo
Article date:
September 15, 2009
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Byline: Mamta03

Thomson Reuters has agreed a deal worth under $50m ([pounds sterling]30m) to take over Abacus Enterprise, a London-based tax software business owned by Deloitte, in one of the largest moves beyond its US home market for the business information group s tax and accounting division.

Abacus currently supplies tax planning, compliance and remittance products to about 400 clients in the UK, Ireland, the Netherlands, Hong Kong and New Zealand, including half the companies in the FTSE 100 Index.

However, its ownership by Deloitte has restricted it from selling to rival accounting firms and their clients. Deloitte will continue to use ...

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