DALLAS, Sept. 26, 2012 /PRNewswire/ -- Ryan, a leading global tax services firm with the largest indirect tax practice in North America, today announced that it has signed a binding agreement to acquire Thomson Reuters Property Tax Services business. The completion of the acquisition is subject to regulatory review, including clearance under the Hart-Scott-Rodino Act. The Thomson Reuters Property Tax Services business provides consulting and outsourcing services to clients looking to manage and reduce their property tax and unclaimed property liabilities.
"Property Tax Services is a profitable segment with great potential for continued growth. However, as we announced earlier this year, its consulting model does not fit within our strategy for the larger Tax & Accounting business," said Brian Peccarelli, President of the Tax & Accounting business of Thomson Reuters. "We feel confident that Ryan will continue to develop the Property Tax Services business—creating an offering to its customers that is innovative and brings value to the market."
"This acquisition launches a new phase of global growth for our Firm and the seasoned professionals of Thomson Reuters Property Tax Services who will play a key role in our future success," said G. Brint Ryan, Chairman and CEO of Ryan. "As we continue to experience quantum leaps in growth, all of us remain committed to providing our clients world-class service and superior results."
Terms of the deal were not disclosed.
Ryan is an award-winning global tax services firm, with the largest indirect tax practice in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a two-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 975 professionals and associates serves over 6,500 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.