Two Tax Software businesses merge
Friday, 29 May 2009
Source: AccountancyAge
UK Taxworld and Informanagement, which both provide information and software on tax, compliance and governance changes to accountancy practice clients, have merged to create the fourth largest player in the market.
It will now compete directly with CCH, the biggest supplier of tax software and information in the UK. The merged business will now have a combined client database of up to 500 UK firms.
Laurence Vogel, head of UK operations at Informanagement, said: ‘We see ourselves benchmarked against CCH rather than other competitors.
Is there potential for other mergers in the pipeline, who knows? We just want to drive the business forward.’
Informanagement is a Dutch company created by three accountants in 2001 which currently supplies to 10% of the Dutch market. It launched in the UK last year and will act as the parent company to UK Taxworld.
Informanagement has said there are no redundancy plans. It will consolidate customer service centres but both company’s will retain their names, though Informanagement will add ‘incorporating UK Taxworld’. The change will be reflected on their website later this month.
Prior to the merger Informanagement would have sat towards the bottom of the top ten players in the industry, with UK Taxworld sitting in the middle.
CCH were unavailable for comment at time of going to press.
UK Taxworld and Informanagement, which both provide information and software on tax, compliance and governance changes to accountancy practice clients, have merged to create the fourth largest player in the market.
It will now compete directly with CCH, the biggest supplier of tax software and information in the UK. The merged business will now have a combined client database of up to 500 UK firms.
Laurence Vogel, head of UK operations at Informanagement, said: ‘We see ourselves benchmarked against CCH rather than other competitors.
Is there potential for other mergers in the pipeline, who knows? We just want to drive the business forward.’
Informanagement is a Dutch company created by three accountants in 2001 which currently supplies to 10% of the Dutch market. It launched in the UK last year and will act as the parent company to UK Taxworld.
Informanagement has said there are no redundancy plans. It will consolidate customer service centres but both company’s will retain their names, though Informanagement will add ‘incorporating UK Taxworld’. The change will be reflected on their website later this month.
Prior to the merger Informanagement would have sat towards the bottom of the top ten players in the industry, with UK Taxworld sitting in the middle.
CCH were unavailable for comment at time of going to press.
Labels: company news, tax software, technology
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