Ernst & Young has purchased the U.S. tax preparation and court accounting outsourcing businesses of Thomson Reuters, which includes approximately 175 employees.

Though financial terms of the deal were not disclosed, Ernst & Young plans to continue growing these outsourcing businesses, with a focus on expanding service offerings to financial services organizations and law firms. In addition, the Tax & Accounting business of Thomson Reuters will focus more resources on its core software and implementation services businesses.

“This is just the latest example of EY’s commitment to offering the most advanced technology and services available to our clients,” said EY Americas vice chair of tax services Kate Barton. “EY and Thomson Reuters share a strong cooperative relationship, working closely in connection with these outsourcing capabilities, and we will continue to be a software customer of Thomson Reuters. We have a great deal of respect for Thomson Reuters, and we’re excited about welcoming these new professionals to EY.”

The software businesses of ONESOURCE Trust Tax and ONESOURCE Trust & Estate Administration will remain with the Tax & Accounting business of Thomson Reuters.

“We are focused on delivering value to our customers and believe we can best execute through our software platform," said Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters. "We have determined that an accounting and consulting organization like EY can better serve our customers’ full-service outsourced tax preparation needs. We will continue to work closely with EY and will license our ONESOURCE Trust Tax and ONESOURCE Trust & Estate Administration software to them so that our customers have a seamless transition.”

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access