Reznick Group said it has signed a letter of intent to acquire another accounting firm, Tidwell DeWitt, building its presence in the Southeast and adding more services.

The move will expand Reznick's Atlanta office and establish a new office in Birmingham, Ala., for the Bethesda, Md.-based firm. The transaction is expected to close by Oct. 1. Approximately 50 Tidwell DeWitt employees, including seven principals, will be joining Reznick Group, according to Ken Baggett, managing principal with Reznick. Tidwell DeWitt had annual revenue of $13.7 million in fiscal 2006, while Reznick Group had annual revenue of $188 million in fiscal 2007.

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