The Tax & Accounting business of Thomson Reuters has acquired Canadian tax preparation software developer Dr Tax Software Inc.
Dr Tax develops both professional and consumer lines of tax prep software for the Canadian market. The Montreal-based company offers DT MAX tax compliance software, which is used by more than 3,000 Canadian accounting firms, and UFile and ImpotExpert consumer software, which is sold online and through retail outlets. Financial terms of the acquisition were not disclosed.
“Dr Tax has nearly a quarter century of experience in the Canadian tax sector, excellent customer relationships, and popular, easy-to-use applications,” said Jon Baron, president of the professional unit within the Tax & Accounting business of Thomson Reuters, in a statement. “Combining our strengths will bring real value to customers.”
The company will continue to operate from Montreal, and Thomson Reuters will retain Dr Tax’s product lines and facilities after the acquisition. The development team and sales team will remain in place as well.
“This is good news for Dr Tax customers and employees, because Thomson Reuters delivers sophisticated technology, innovative products and a focus on customers’ needs,” said Dr Tax Software vice president and general manager Malcolm Campbell. “As we contemplated our future in the tax software market, we decided it was in the best interest of our customers to join with a company that can provide the resources to take our offerings to the next level.”
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