Thomson Reuters has acquirered tax software service CorpSmart from Deloitte for an undisclosed amount.
Round-up of today’s M&A deals
Thomson Reuters has acquirered tax software service CorpSmart from Deloitte for an undisclosed amount.
The corporate tax compliance software provided by CorpSmart is a web- based service, which allows multi-national companies to prepare monthly, quarterly and annual income tax computations as well as file South African tax returns.
‘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 entitiesaround the world,” says Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters.
Duane Newman, managing director, Deloitte and Touche Tax Technologies comments: ‘As MNCs look to new markets and regions like South Africa for investment, it is important that they have the right information about the local tax system and the best tools to help them achieve compliance.’
The terms of the transaction were not disclosed.
Round-up of today’s M&A deals
- The PNC Financial Services Group and the Royal Bank of Canada have entered into a definitive agreement resulting in PNC acquiring RBC Bank, the U.S. retail banking subsidiary of Royal Bank of Canada
Value: £2.13 billion
Advisers: Bank of America Merrill Lynch, RBC Capital Markets, JPMorgan Chase & Co
- Development Securities forge a partnership with Ellandi to acquire Bristol office tower.
Value: £7.6 million
Advisers: undisclosed
- Warrington-based Assura has sold its pharmacy division, comprising of 36 pharmacies and five development sites to Gorgemead, owner of the Cohens Group.
Value: £39.3 million
Advisers: undisclosed
- DST has acquired Subserveo, a provider of automated compliance and surveillance solutions to broker-dealers and investment advisors.
Value: undisclosed
Advisers: undisclosed
- Accuride Corporation has acquired Forgitron Technologies.
Value: undisclosed
Advisers: undisclosed
