Baker Tilly, a Prime 25 Firm headquartered in Chicago, ideas to purchase AcctTwo, a Houston-dependent technologies and solutions enterprise that specializes in finance and accounting transformation, powerful Oct. 1.
By buying AcctTwo, Baker Tilly will develop into one particular of the top business enterprise associates of Sage Intacct. AcctTwo has been named Husband or wife of the Calendar year for seven many years by Sage Intaact. It is both of those a price-added reseller of Sage Intacct and a managed solutions supplier for the cloud-dependent accounting seller, which companions with the American Institute of CPAs. The AcctTwo group will be a part of the growing Baker Tilly Electronic observe after the offer is finished.
The deal suggests the rising significance of know-how to accounting firms’ growth as clientele convert to their accountants for enable with recommending and employing their money systems.
“We are investing heavily in the electronic space to enable our shoppers travel sustainable progress and keep forward of the technologies revolution,” said Baker Tilly consulting managing husband or wife Angela MacPhee in a statement Wednesday. “Together with AcctTwo, Baker Tilly’s end-to-end methods can meet up with the desires of firms in any stage of their daily life cycle.”
Fiscal phrases of the deal were being not disclosed. AcctTwo experienced $30 million in revenue previous yr. It has 105 pros and offices in Houston and Dallas. Baker Tilly earned annual revenues of $1 billion for the fiscal year ending May perhaps 31, 2021. The business has 4,600 pros, such as 450 associates. Baker Tilly ranked 12th on Accounting Today’s 2021 list of the Major 100 Firms. The business currently employs 500 industry experts in Texas, which include 385 in Dallas, 80 in Houston and 40 in Austin.
“This is a powerful mixture where by our eyesight and tactic align,” said AcctTwo founder and CEO Marcus Wagner in a statement. “Being deep in the know-how sphere, we preferred a husband or wife with advisory CPA skills and the exact same commitment to purchasers and future progress.”
Sage Intaact sees constructive signs in the deal as nicely. “This is a wonderful final result for our joint customers,” claimed Taylor Macdonald, senior vice president of channels for Sage Intacct, in a statement. “This acquisition delivers with each other our seven-time Spouse of the Year and a single of the most modern advisory CPA corporations with worldwide attain and an remarkable breadth and depth of knowledge.”
Past month, Baker Tilly declared it was buying Margolin, Winer & Evens, a Regional Leader business in New York, helpful Nov. 1. Past 12 months, it acquired Squar Milner and Brown Adams Agbayani in California, as properly as Talavant, a facts analytics organization in Madison, Wisconsin.
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