Mergers

Community News

McGladrey Continues to Grow, and Grow, and Grow

RSM McGladrey, Inc., a division of H&R Block, has acquired the assets of How, Cacchione, Gainey PA, a tax and accounting firm in Naples, FL, effective November 1, 2001."We're looking forward to adding the outstanding professionals of How Cacchione, Gainey to our Naples office," said Tom Rotherham, chief executive officer of RSM McGladrey.
Community News

Massachusetts CPA Firm Tofias Expands

Tofias PC, Southern New England's largest regional certified public accounting and consulting firm, has announced its merger with Petitti, Eisenberg & Gamache, a leading Southeastern Massachusetts accounting and consulting firmPetitti, Eisenberg & Gamache, based in New Bedford, MA, will take the Tofias name but will maintain its current location and staff."We are delighted to be joining forces with the leading tax and accounting firm in Massachusetts' growing Southeastern section," said Tracy Gallagher, managing director of Tofias.
Community News

Pennsylvania's Largest CPA Firm Just Got Bigger

Beard Miller Company LLP, Pennsylvania's largest regional CPA firm with 250 employees, has announced plans to merge with Lancaster-based Dorwart Andrew & Company, effective January 1, 2002. According to Beard Miller Company’s Chairman, Robert J. Gibble, "Our objective in combining our two firms is to create a dominant, regional professional services firm in the eastern, central, and south central Pennsylvania markets. This will allow us to concentrate our efforts in this region and to continue to deliver high quality, value-added services to each of our local communities.
Community News

RSM McGladrey Continues Expansion with Two Acquisitions

National accounting, tax, and consulting firm, RSM McGladrey, a subsidiary of H&R Block, has announced the acquisition of Dallas accounting firm Fisk & Robinson."Adding Fisk & Robinson to our existing Dallas location strengthens our presence in one of the top-25 markets in the country," said Tom Rotherham, CEO of RSM McGladrey.
Community News

Deloitte & Touche Acquires Chicago Firm

Deloitte & Touche has acquired the assets of Chicago-based firm Klayman & Korman LLC, an accounting and consulting firm ranked 13th among Chicago firms and 70th nationwide.The acquisition includes the information technology consulting practice of subsidiary Klayman & Korman Information Technology Group LLC.Klayman & Korman is a $17 million firm with 16 partners and 155 employees.
Community News

RSM McGladrey Acquires Connecticut Firm

H&R Block-owned RSM McGladrey, Inc. has announced the acquisition of Connecticut-based Messina, Ceci, Archer & Co., a closely-held firm specializing in mid-size business clients, nonprofit organizations, construction, and real estate companies.Messina, Ceci, Archer & Co. has served clients in the Fairfield, CT area for 16 years, and has a staff of 40 professionals.
Community News

Andersen Acquires PwC French Consulting Operation

Andersen has announced the acquisition of the French firm, Price Waterhouse Management Consultants S.A.S. (PWMC), forming the leading strategic operational consultancy in France."We are delighted to welcome our new French partners and colleagues to Andersen," said Joseph F. Berardino, Andersen's managing partner/CEO.The combined professional services firm will house 900 consultants and is expected to generate combined annual fees of $140 million.
Community News

Sage Acquires Fund Accounting Software Provider MIP

Sage, a leading U.S. provider of business management solutions for small and mid-sized businesses, has acquired not-for-profit accounting software giant, Micro Information Products (MIP).MIP markets NPS Intro, NPS Pro, and the Advantage NonProfit Series.
Community News

McGladrey Expands with Northwest Acquisition

Minneapolis-based RSM McGladrey, the 10th largest accounting firm in the U.S., has expanded its presence in the Pacific Northwest with the acquisition of Knight Vale & Gregory (KVG), one of the largest firms in the area. KVG is ranked as the 79th largest U.S.
Community News

KPMG Plans Acquisition of UK Cousin

Partners from the UK firm of KPMG Consulting stand to earn a fortune if the US firm goes ahead with a plan to buy its UK associate, according to England's Sunday Times.The deal, which could happen within the next six months, would put KPMG Consulting in a strong position as the higher end of the market consolidates.

Seven Golden Rules To M&A Success

Increasing shareholder value is one of the key reasons to pursue a merger or acquisition, yet only about one third of the largest deals in the last couple of years resulted in increased value.A recent study by KPMG uncovered some interesting facts about successfully increasing shareholder value following a merger or acquisition.It found that:The more experience a company had in acquisitions did not make much difference on its ability to increase value.35% of US companies derive value from a merger
Community News

CBIZ Announces Share Repurchase Program

The Board of Directors of Century Business Services, Inc. has authorized a stock repurchase plan for up to one million shares of stock over the next six months.The stock is expected to be used for future corporate acquisitions and for strengthening its employee stock plan.

FASB's New Rules are Now In Effect

Important dates:Effective March 15, 2001, all companies with fiscal years after this date (but not calendar year companies) are entitled to elect early adoption of the FASB's new purchase rules.Effective June 30, 2001, pooling is officially eliminated. Mergers and acquisitions occurring after this date must use the purchase method.
Community News

Eide Bailly & Buckhoff O'Halloran Form Fraudwise LLC

HLB International reported that Eide Bailly, LLP and Buckhoff, O'Halloran & Associates, LLP have created a strategic partnership and formed a new company, Fraudwise, LLC, which offers fraud-related consulting services.
Community News

Clifton Gunderson Announces Merger

Clifton Gunderson, the 11th largest U.S. accounting firm, has announced its merger with the Colorado-based firm of Van Schooneveld & Co.Van Schooneveld & Co. brings 36 professionals to the merger and plans to continue operations from its present location in Greenwood Village, a suburb of Denver.Clifton Gunderson chief executive Carl George commented on the merger: "One of our key firm-wide growth strategies is to further enhance our presence in key Clifton Gunderson markets, like the Denver area.

FASB Nears Conclusion of M&A Project

The Financial Accounting Standards Board voted unanimously on Tuesday to support two measures for accounting standards for mergers and acquisitions. The formal vote to approve these measures is scheduled for late June.The two statements, Business Combinations and Goodwill and Intangible Assets, represent formalization of 1999 proposals which have been carefully analyzed by the Board.
Community News

More Merger Talk Among Big Five

Joseph Berardino, Andersen CEO, has indicated that the firm plans to consider the option of a merger at a partners meeting scheduled for later this year."We need to take an honest to God look at what a merger does to us, for us, or against us," said Mr. Berardino.

Intuit Acquires Tax & Accounting Software Corp.

On Tuesday, Intuit announced it has signed an agreement to acquire the privately held Tax and Accounting Software Corporation (TAASC) for $63 million. With the acquisition of TAASC, Intuit said it will add TAASC's accounting products--software that allows accountants to prepare financial statements and forms--to its existing line of Lacerte and ProSeries financial software.
Community News

Wells Fargo Buys H.D. Vest for $127 Million

In one of the first bank deals of its kind, Wells Fargo & Co. said Friday that it will pay about $127 million in cash for H.D. Vest, a large Irving, Texas-based financial planning firm that provides services through 6,000 independent tax and financial advisers.H.D.
Community News

Baird Kurtz & Dobson and Olive, LLP to Merge

Baird Kurtz & Dobson and Olive, LLP, the 11th and 18th largest CPA and consulting firms in the U.S., intend to merge on June 1, 2001. The announcement was made Monday by William (Bill) E. Fingland, Jr. managing partner of Baird, Kurtz & Dobson, and John D. Harris, chief executive officer of Olive. The combined firms will adopt the new name BKD, LLP. The resulting regional powerhouse, with combined revenues exceeding $200 million on June 1, will be the largest regional professional services firm in the U.S.

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