CBIZ buys tech solutions provider CompuData

CBIZ, a Top 25 Firm based in Cleveland, has acquired Philadelphia-based accounting solutions provider CompuData, which specializes in software for small and midsize organizations.

Founded in 1971, CompuData provides cloud computing, accounting ERP software, managed IT and security to clients. The company is a Sage Diamond Partner and has Microsoft Partner designation in both Azure Cloud and Modern Work. The firm, which ranked No. 55 on last year's VAR 100 list, has 60 employees and about $20 million in annual revenue, as of today.

Jerry Grisko, president and CEO of CBIZ, said the firm decided to buy the company because of increasingly high demand for the specific suite of services and solutions that CompuData provides. Angela Nadeau, president and CEO of CompuData, added that CBIZ aligns well with the reseller's industry verticals, including financial services, construction, manufacturing, distribution and technology.

CompuData will go to market as CBIZ CompuData, given the brand awareness that they have, and will be a business unit within CBIZ's Financial Services Advisory, according to a CBIZ spokesperson. CompuData will be an independent business unit in CBIZ's financial services advisory division and will be led by current CompuData COO Ed Guarrieri. Nadeau, meanwhile, will be staying on in an advisory role to ensure a smooth transition.

The deal is effective March 1, 2024. Financial terms of the deal and specifics about negotiations were not disclosed.

This is the second acquisition announced by CBIZ just this year. In February, the firm announced it acquired Erickson, Brown & Kloster LLC in Colorado Springs, Colorado, effective Feb. 1, 2024. In conjunction with the deal, Mayer Hoffman McCann PC, a national independent CPA firm that works closely with CBIZ, acquired the attest assets of EBK. EBK provides tax and accounting services to a variety of different types of businesses, including automotive, wholesale, medical services, real estate, manufacturing and nonprofit organizations. In February of last year, it acquired the nonattest assets of Top 100 Firm Somerset CPAs and Advisors, an Indianapolis-based firm.