LBMC buys data analytics company Think Data Insights
LBMC, an Accounting Today Top 100 Firm based outside Nashville, has acquired Think Data Insights, a company that provides data platforms and analytics solutions. More firms are upping their stake in analytics and other technology capabilities as the accounting industry becomes increasingly tech-enabled.
Financial terms of the transaction were not disclosed.
The acquisition expands on LBMC’s strategic objective to provide comprehensive resources to its clients, particularly as it grows its footprint and capabilities nationally across key verticals, including private equity, health care, manufacturing and service providers.
Think Data Insights, based in Nashville near LBMC’s Brentwood headquarters, has grown rapidly since its launch five years ago. The company has delivered data platforms and business intelligence solutions for companies in the verticals LBMC already services, including health care, manufacturing, retail, media and finance, among others. Think Data Insights is also a certified Microsoft Gold partner, the highest level of Microsoft's partnership program.
“As we continue to grow, we continue to invest in new service lines that deepen and enhance our offerings, while keeping LBMC at the forefront of technological advancements,” said LBMC CEO Jeff Drummonds in a statement. “This acquisition underscores our commitment to providing our clients with transformational solutions, so that the thousands of businesses we work with across the country have access to best-in-class resources and experts that advance their success.”
“Joining forces with LBMC means our technology can empower more companies to harness the power of data to drive growth, decrease expenses and manage other business objectives,” added Ken Raetz, CEO of Think Data Insights, who will join LBMC as a shareholder and remain focused on growing the data analytics service line. “This allows us to expand our footprint and leverage LBMC’s deep expertise, while increasing the company’s resources, and ultimately, helping clients master their most critical business issues.”