Investment banking firm Duff & Phelps has entered into a global alliance with World Tax Service Alliance and acquired WTS's U.S. member, World Tax Service U.S., for an undisclosed sum.

WTS Alliance was formed in 2003 by German tax consultancy firm WTS AG. WTS Alliance now has global operations through its 16 alliance members and extensive network of cooperating firms.

WTS Alliance mainly focuses on transaction tax support for investments and mergers and acquisitions, global financial services, transfer pricing and value-added taxes advisory services. Duff & Phelps and WTS AG plan to deepen their relationship to serve the needs of their multinational clients.

"Through this acquisition and alliance with WTS, which is highly complementary to our existing service offerings, we are now able to provide transaction-related tax advice," said Duff & Phelps chairman and CEO Noah Gottdiener in a statement.

WTS-US has offices in New York, N.Y., and Morristown, N.J. The firm's services include international and domestic corporate tax structuring, M&A tax advisory, investment fund structuring, institutional investor representation, and related tax compliance services. WTS-US will go to market as Duff & Phelps WTS LLC, and operate within the financial advisory segment of Duff & Phelps. David Neuenhaus and Francis Helverson, co-leaders of WTS-US, will serve as co-leaders of the new service line.

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