NEW YORK, Nov. 2, 2015 /PRNewswire/ -- KPMG LLP, the audit, tax and advisory firm, today acquired from G2 FinTech (G2), a boutique tax technology firm that specializes in tax analysis and compliance software for the investment management community, all of its United States tax software and intellectual property, including G2's flagship product, TaxGopher®. G2 will remain a separate entity with a continuing business post-closing. A majority of G2's development team will join KPMG's Tax Transformation and Technology Practice, enabling KPMG to enhance its capabilities to assist hedge funds with their tax compliance needs.
"This acquisition of G2's technology assets and intellectual property continues to build on our successful leadership position in the Alternative Investment space following the Rothstein Kass transaction last year," said Jeffrey C. LeSage, Vice Chairman –Tax at KPMG. "The market is demanding a web-based, integrated technology platform; by adding G2's technology, KPMG will now be able to offer hedge funds a seamless end-to-end analysis and compliance solution."
KPMG is making a significant investment in tax technology with the continued development of KPMG LINK PartnerTrack, the firm's next-generation web-based platform for streamlining the partnership tax return and reporting process. The G2 acquisition reflects this commitment, by harnessing leading technology in order to meet the complex tax compliance needs of clients.
This acquisition marks KPMG's second transaction in the tax technology space in less than a year. In November, KPMG acquired the Global Trade Management (GTM) Practice of EntryPoint Consulting LLC, enabling the firm to provide both regulatory and technology consulting to multinationals.
George Michaels, CEO of G2 FinTech said, "This opportunity presents the best of both worlds for G2 and our clients. Our ongoing arrangement with KPMG enables us to service our existing clients while at the same time allows KPMG to incorporate TaxGopher within its KPMG LINK PartnerTrack platform. We see this as a huge win for everyone."
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 162,000 professionals, including more than 9,000 partners, in 155 countries.
SOURCE KPMG LLP