IRIS acquires tax software company
Friday, 6 June 2008
Source: AccountancyAge.com
Product and software developer IRIS has acquired Drummohr Technology, the makers of 'Tax Assistant', for an undisclosed sum.
So far, IRIS has announced that there are no plans to merge the two companies' range of products, but will include a strategy of sustained investment and introduction of new products where appropriate.
Martin Leuw, CEO of IRIS, said: 'By adding the Tax Assistant software to the IRIS range, we are able to offer an unparalleled wealth of knowledge and experience of this specialist sector.’
In a statement Drummohr Technology said: 'IRIS' goal (is) to revolutionise the accountancy profession with a range of quality solutions to suit every size and type of practice'.
SG comment: This year so far has seen a good level of consolidation in the tax software market. The above seems a relatively small acquisition, but earlier in the year we have seen Thomson Corporation acquire CrossBorder solution, for their transfer pricing and tax accounting software products. We have also seen the accounting & tax software arm of MYOB in the UK/Ireland be acquired by Wolters Kluwer, which is the home of CCH Software.
Product and software developer IRIS has acquired Drummohr Technology, the makers of 'Tax Assistant', for an undisclosed sum.
So far, IRIS has announced that there are no plans to merge the two companies' range of products, but will include a strategy of sustained investment and introduction of new products where appropriate.
Martin Leuw, CEO of IRIS, said: 'By adding the Tax Assistant software to the IRIS range, we are able to offer an unparalleled wealth of knowledge and experience of this specialist sector.’
In a statement Drummohr Technology said: 'IRIS' goal (is) to revolutionise the accountancy profession with a range of quality solutions to suit every size and type of practice'.
SG comment: This year so far has seen a good level of consolidation in the tax software market. The above seems a relatively small acquisition, but earlier in the year we have seen Thomson Corporation acquire CrossBorder solution, for their transfer pricing and tax accounting software products. We have also seen the accounting & tax software arm of MYOB in the UK/Ireland be acquired by Wolters Kluwer, which is the home of CCH Software.
Labels: company news, tax software, technology
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