Sep 14th 2009
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The news and financial data publisher did not disclose the financial terms of the deal.
London-based Abacus provides software that helps companies plan, comply and remit income taxes and value added taxes (VAT).
About 40 employees will be transferred with the business, which will continue to be based in London, Thomson Reuters said in a statement.
Thomson Reuters said Abacus's products will be integrated with its tax planning, transfer pricing, provisions, and workflow management and will fill a gap in its overall portfolio in the UK market.
Abacus also has a strategic distribution relationship in the UK with software provider Sage, which will be retained by Thomson Reuters, the statement said.