Thomson Reuters Acquires CorpSmart from Deloitte
(Thomson Reuters ONE) -
Tax & Accounting business expands into South African market with corporate tax
solution
LONDON, June 20, 2011- Thomson Reuters, the world's leading source of
intelligent information for businesses and professionals, has acquired CorpSmart
from Deloitte.
A leader in the market, CorpSmart provides multinational corporations (MNCs) in
South Africa with intelligent corporate tax compliance software. Using this web-
based solution, MNCs are able to prepare monthly, quarterly and annual income
tax computations as well as file South African IT14 tax returns.
This highly diverse market, which many MNCs have identified for growth and
investment opportunities, is now recognised and referred to as a 'frontier
market'. The purchase of CorpSmart, which will be integrated into the ONESOURCE
suite of solutions, will strengthen the expanding Tax & Accounting business and
provide its customer base with the tools to develop business in this exciting
market.
"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," said Brian Peccarelli, president of the Tax & Accounting
business of Thomson Reuters.
"The CorpSmart acquisition is strategically and geographically important for the
Tax & Accounting business as it marks the inaugural entry to the African market
and will form part of our global offering," concluded Brian Peccarelli.
"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," commented Duane Newman,
managing director, Deloitte and Touche Tax Technologies. "As a leader in the
corporate and income tax technology sector within this market we have been able
to deliver this expertise on a wide scale."
CorpSmart along with Vatrax and Contractorsmart, will become a core component
within Tax & Accounting and a strategic part of the EMEA offering. The terms of
the transaction were not disclosed.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial, legal, tax and accounting, healthcare and science and media markets,
powered by the world's most trusted news organization. With headquarters in New
York and major operations in London and Eagan, Minnesota, Thomson Reuters
employs more than 55,000 people and operates in over 100 countries. Thomson
Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol:
TRI). For more information, go to www.thomsonreuters.com
-Ends-
Contacts
Tina Allen David Girardin
Public Relations Manager, Tax & Accounting Corporate Affairs Manager
EMEA +1 646 223 4870
+44 (0) 20 7375 6814 david.girardin(at)thomsonreuters.com
tina.allen(at)thomsonreuters.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
[HUG#1524732]
Unternehmensinformation / Kurzprofil:
Datum: 20.06.2011 - 18:06 Uhr
Sprache: Deutsch
News-ID 55703
Anzahl Zeichen: 4211
contact information:
Kategorie:
Business News
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