Tax services firm Ryan has signed an agreement to acquire the Thomson Reuters Property Tax Services business.

Terms were not disclosed. The deal is subject to regulatory review.

The Thomson Reuters Property Tax Services business provides consulting and outsourcing services to clients looking to manage and reduce their property tax and unclaimed property liabilities.

“Property Tax Services is a profitable segment with great potential for continued growth. However, as we announced earlier this year, its consulting model does not fit within our strategy for the larger Tax & Accounting business,” said Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters. “We feel confident that Ryan will continue to develop the Property Tax Services business -- creating an offering to its customers that is innovative and brings value to the market.”

“This acquisition launches a new phase of global growth for our firm and the seasoned professionals of Thomson Reuters Property Tax Services, who will play a key role in our future success,” said G. Brint Ryan, chairman and CEO of Ryan.