Thomson Corp. said it would acquire the Deloitte Tax LLP Property Tax Services business for an undisclosed sum.
Once the acquisition closes, Deloitte's PTS business will become part of Thomson's Tax & Accounting segment. PTS provides property tax compliance outsourcing and consulting services, and has a network of more than 420 employees.
With the acquisition, Thomson expects to expand its own ePropertyTax software and services by combining them with Deloitte's services and network of professionals. Thomson acquired the Scottsdale, Ariz.-based ePropertyTax business late last year, offering property tax compliance services to corporate tax departments. With the acquisition, the company will be able to add Deloitte's services for real estate property tax appeals and complex property tax valuations to the mix.
The acquisition is expected to close around October 1, but is still going through the regulatory approval process, according to Thomson spokesperson Kathy Lofland. She anticipates many of the Deloitte professionals will stay near their current locations.
"They have a national network of providers, so we definitely want to take advantage of that," she said.
