Thomson Reuters has acquired TaxSimple, one of the last independent software companies in the tax software market.
The deal, the terms of which were not disclosed, will allow the Tax & Accounting business of Thomson Reuters to service a different segment of the tax preparer arena, according to Teresa Mackintosh, senior vice president and general manager of the company's professional market.
"The acquisition of TaxSimple allows us to meet the needs of a different set of customers than our traditional products," she said. "Historically, we would fold in an acquisition where we would transition a customer base to UltraTax CS, but with TaxSimple we're keeping the product line up and running. It will be business as usual for TaxSimple customers."
TaxSimple owner and co-founder John Vora confirmed that he will remain with the Randolph, N.J.-based firm, which was founded in 1983, and whose users are mostly small and midsized tax preparers. "Although we have been acquired by Thomson Reuters, it is going to be business as usual," he said. "We will have the same management, same support personnel and same programmers."
"We will keep our name and our identity," Vora continued. "What we are going to have are more resources to expand TaxSimple's capabilities."
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