Mergers

Community News

RSM McGladrey Expands to Portland Oregon Market

RSM McGladrey has opened its first office in the greater Portland area of Oregon. The new office's professionals will initially focus on risk management and regulatory compliance work. "Opening the Portland area office is consistent with our growth strategy of serving more major metropolitan markets," said Mark Williams, RSM McGladrey Managing Director for Seattle.
Tax

J.H. Cohn LLP Expands New York Tax Practice

Becker & Company, LLC, a leading New York-based tax consulting firm, has combined its practice with J.H. Cohn LLP, one of the country's largest accounting and consulting firms. Founded in 1977, Becker & Company has provided tax services to family-owned businesses and their owners, publicly held companies and their senior executives, and high-net-worth entrepreneurs in New York City, Long Island and South Florida. Stuart Becker, managing partner of Becker & Company, joins J.H. Cohn as a partner and will be responsible for the Becker & Company division of J.H. Cohn.
Community News

Reznick Group's Growth Continues With Its Expansion to the Midwest

Reznick Group Managing Principal Kenneth E. Baggett today announced that Friduss, Lukee, Schiff & Co. (FLS) and Reznick Group will merge.
Community News

Holtz Rubenstein Reminick Expands Litigation & Valuation Services with Merger

Holtz Rubenstein Reminick LLP, Certified Public Accountants and Business Advisers, has merged with Rand Consulting Group Inc., Certified Forensic Examiners, Accountants and Valuation Analysts. The merger significantly expands Holtz Rubenstein Reminick's existing Litigation & Valuation Services Group and positions the firm as one of the largest mid-size forensic accounting, valuation and litigation support firms in the New York metropolitan area. In addition to announcing the merger, Holtz Rubenstein Reminick welcomes into its partnership group Martin P.
Community News

Block to Expand into Small Business Services Sector

H&R Block has announced plans to expand into the business services realm, with services such as year-round tax preparation and planning, bookkeeping and payroll processing, and advisory services for businesses with 25 or fewer employees, the Kansas City Star reported.Known for its tax services for individuals, Block is hoping to open as many as 1,000 offices over the next five to seven years, with some located in nine states in former American Express Tax and Business Service Offices, which were bought by Block.
Community News

Wal-Mart Ponders Expansion into Other Industries Such as Banking

Those who worry that Wal-Mart is taking over the world take note-soon the mega mart might be venturing into banking, dentistry and health care among other industries, CNN/Money reported.Already at the top of the retail heap, Wal-Mart is considering expansion into other markets over the next five to 10 years.
Tax

CBIZ Acquires California Firm, Nation Smith Hermes Diamond

CBIZ (Century Business Services, Inc.) last week announced the acquisition of Nation Smith Hermes Diamond of San Diego, California, effective January 1, 2005.Founded in 1966, Nation Smith Hermes Diamond is the largest locally-owned accounting and consulting firm in the San Diego market, offering a full range of tax, IT consulting, strategic planning, family wealth planning and other services to public and growing middle market companies and their owners.
Technology

Oracle Highlights Strength of Combined Companies, Releases Security Patch

Oracle this week announced, at an event at its headquarters with more than 17,000 joining by Webcast and phone, how the nearly 50,000-strong combined workforce of Oracle and PeopleSoft will provide unparalleled innovation and support to 23,000 applications customers throughout the world. At an event at its headquarters, Oracle CEO Larry Ellison and his top executives showcased the new application organization; product and global support plans; and discussed Oracle's market share strength, particularly in specific industries.
Tax

Reznick Group's Expansion Continues with Midwest Merger

Reznick Group Managing Principal Kenneth E. Baggett announced this week that Friduss, Lukee, Schiff & Co. (FLS) and Reznick Group will merge.
Community News

Crain & Company Joins Horne LLP, CPAs and Business Advisors

Crain & Company, PLC, a leading local accounting firm, joined Horne LLP, CPAs and Business Advisors, a large Southeast regional accounting firm effective January 1, 2005. The merger follows a management agreement that began in July 2004. As one of the largest accounting firms in the West Tennessee area, Crain & Company, PLC, is increasing its range of services with the merger. Horne has eleven offices throughout the Southeast including offices in Tennessee, Mississippi, Louisiana and Alabama. "Our goal is to increase services for our clients," said Katherine G.
Community News

M&A Advisor Names Crowe Chizek Top Accounting Advisory Firm

For the second year in a row, top 10 U.S. public accounting and consulting firm Crowe Chizek and Company LLC has been named the top accounting advisory firm at the 2004 Mergers and Acquisitions (M&A) Advisor Awards. Presented by Mergers and Acquisitions Advisor, a leading publisher for financial executives in middle market mergers and acquisitions, the awards are also known as "The Academy Awards of Middle Market M&A." The awards are presented annually to the top dealmakers based on transactions in middle market mergers and acquisitions.
Community News

RSM McGladrey Acquires Rockford BDO Seidman Office

RSM McGladrey last month increased its presence in the northern Illinois marketplace with the acquisition of the non-attest assets of BDO Seidman LLP in Rockford. In a separate transaction, McGladrey & Pullen LLP acquired the Rockford audit and attest assets.
Technology

Oracle Takes Over, PeopleSoft CEO Steps Down

One day after PeopleSoft Chief Executive Dave Duffield resigned, Oracle announced that it has taken control of its rival, as 75 percent of PeopleSoft shareholders have tendered their shares.
A&A

American Express Announces Card Issuing Alliance with Citibank

American Express announced late last week that it has reached an agreement for Citibank to issue credit cards in the United States that will be accepted on the American Express global merchant network.American Express anticipates that the new credit card products developed by Citibank will be available in late 2005.Citibank will be responsible for issuing the cards, managing the customer relationships, providing service, billing and credit management and designing the card product features.
Community News

Oracle to Pay $10.3 Billion to Acquire PeopleSoft

After an emotional and often bitter 18-month battle, PeopleSoft Inc. agreed to be acquired by Oracle Corp. for about $10.3 billion. Oracle's Chief Executive Larry Ellison had called the merging of the No. 2 and 3 business management software companies inevitable. Oracle's purchase of PeopleSoft creates a powerful competitor to SAP AG of Germany, the world's leading business management software maker, the Wall Street Journal reported.
Community News

The Rehmann Groups Expands Reach with Upcoming Merger

The Rehmann Group, one of Michigan’s largest CPA and consulting firms, announced plans to merge with Troy-based Perrin, Fordree & Company effective January 1, 2005. The announcement comes less than a year following The Rehmann Group’s merger with Southfield-based Parker Wittus & Co. The Rehmann Group has nearly 400 professionals in 11 cities across the state with annual revenues exceeding $40 million. Perrin, Fordree & Company, which will assume The Rehmann Group name, employs 38 professionals with annual revenues of $5 million.
Tax

Top Firm Expands Presence in Florida and Southeast with Mergers

Carr, Riggs & Ingram one of the largest firms in the Southeast region recently announced the mergers of two firms into the Carr, Riggs & Ingram group. The Birmingham, AL based public accounting firm of Mackle, Splawn, Tindall & McDonald joined forces with CRI earlier this month along with the firm of Weathersby, D’Aoust, Harris & Lynn, PA. Carr, Riggs said the mergers will broaden the firm's footprint. "CRI’s long range plan has been to move into larger metropolitan markets.
Community News

Crowe Chizek Acquires Illinois Accounting Firm

On Monday, Crowe Chizek and Company LLC announced that it will combine practices of its Public Sector Services group with Oak Brook, Ill.-based accounting firm PTW. Effective January 1, 2005, the combination of Crowe and PTW practices will create the largest integrated practice group in Illinois offering governmental consulting, governmental attestation and governmental financial services.
Technology

EU Clears Obstacle to Takeover of PeopleSoft

The European Union's executive body has announced it could find no reasons to stop Oracle's hard-fought battle to take over PeopleSoft Inc., clearing the last antitrust barrier in Oracle's way.The Wall Street Journal reported Wednesday that the European Commission studied the proposal for more than a year and cleared it without conditions. The EU concluded that the presence of PeopleSoft in the business-applications software market didn't "necessarily give rise to more aggressive discounting" and that a larger Oracle wouldn't hurt competition.

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