Thomson Reuters to Acquire Abacus Software Business from Deloitte LLP

Sep 15, 2009

Thomson Reuters has announced that its Tax & Accounting business has signed a definitive agreement to acquire the Abacus Enterprise suite of products and related business operations from Deloitte LLP, a professional services firm. The Abacus suite of products is designed to help corporations and their advisors plan, comply, and remit income taxes and value added taxes (VAT). Based in London, the business offers software products to customers in the U.K., Ireland, the Netherlands, New Zealand, and Hong Kong as well as supplying VAT software for 20 countries in the European Union. Approximately 40 employees will transfer with the business, and the business will continue to be based in London. The transaction is expected to close at a later date. The terms of the transaction were not disclosed.