NEW YORK - The Tax & Accounting business of Thomson Reuters has signed an agreement to acquire Deloitte's Abacus Enterprise suite and related business operations. Abacus helps corporations with compliance and payment of value-added taxes in several European countries. About 40 employees will join Thomson with the business continuing to be based in London. The suite is sold in the United Kingdom, Ireland, the Netherlands, New Zealand and Hong Kong and the operation also supplies VAT software for 20 European Union members. Thomson said there are more than 400 multi-national companies using the software. A Deloitte executive said the firm will continue to provide consulting services to clients who are considering the use of such technology.
Thomson said Abacus will be integrated with its products, including the Web-based OneSource corporate tax portal, along with TaxStream, Paisley and Checkpoint. The move is a continuation of Thomson's expansion in the U.K., which began with the launch of sales and support operations there in 2007, and the acquisition of software publisher Digita last year.
