The Thomson Corp. announced that it has acquired CrossBorder Solutions, a tax software company whose products are used for the planning and compliance needs of corporations.
Financial terms of the transaction were not disclosed.
Based in New York and London, CrossBorder Solutions will become part of Thomson Tax & Accounting. The acquisition will enable the Thomson unit to expand into the transfer pricing/tax market and enhance its offerings in the tax provisions market -- both areas that Thomson said are fast-growers in the corporate tax segment.
A provider of international tax solutions, CrossBorder products work to facilitate transfer pricing documentation and FAS 109 compliance to multinational, publicly traded companies based in the United States and Europe.
TTA president and chief executive Roy Martin Jr. said that the acquisition will greatly expand the range of products and services that Thomson can provide to its corporate tax customers, particularly in the income tax market where the company has already established a market position with its InSource product line.
