Baker Tilly, a High 25 Agency headquartered in Chicago, plans to accumulate AcctTwo, a Houston-based expertise and companies firm that makes a speciality of finance and accounting transformation, efficient Oct. 1.
By buying AcctTwo, Baker Tilly will turn into one of many main enterprise companions of Sage Intacct. AcctTwo has been named Accomplice of the 12 months for seven years by Sage Intaact. It’s each a value-added reseller of Sage Intacct and a managed companies supplier for the cloud-based accounting vendor, which companions with the American Institute of CPAs. The AcctTwo crew will be a part of the rising Baker Tilly Digital apply as soon as the deal is accomplished.
The deal signifies the rising significance of expertise to accounting companies’ development as purchasers flip to their accountants for assist with recommending and implementing their monetary programs.
“We’re investing closely within the digital area to assist our purchasers drive sustainable development and keep forward of the expertise revolution,” stated Baker Tilly consulting managing accomplice Angela MacPhee in an announcement Wednesday. “Along with AcctTwo, Baker Tilly’s end-to-end options can meet the wants of companies in any stage of their life cycle.”
Monetary phrases of the deal weren’t disclosed. AcctTwo had $30 million in income final 12 months. It has 105 professionals and places of work in Houston and Dallas. Baker Tilly had annual revenues of $1 billion for the fiscal 12 months ending Could 31, 2021. The agency has 4,600 professionals, together with 450 companions. Baker Tilly ranked 12th on Accounting Right now’s 2021 record of the High 100 Companies. The agency already has 500 professionals in Texas, together with 385 in Dallas, 80 in Houston and 40 in Austin.
“This can be a highly effective mixture the place our imaginative and prescient and technique align,” stated AcctTwo founder and CEO Marcus Wagner in an announcement. “Being deep within the expertise sphere, we needed a accomplice with advisory CPA experience and the identical dedication to purchasers and future development.”
Sage Intaact sees constructive indicators within the deal as properly. “This can be a nice end result for our joint clients,” stated Taylor Macdonald, senior vice chairman of channels for Sage Intacct, in an announcement. “This acquisition brings collectively our seven-time Accomplice of the 12 months and probably the most fashionable advisory CPA companies with international attain and a powerful breadth and depth of experience.”
Final month, Baker Tilly introduced it was buying Margolin, Winer & Evens, a Regional Chief agency in New York, efficient Nov. 1. Final 12 months, it acquired Squar Milner and Brown Adams Agbayani in California, in addition to Talavant, an information analytics agency in Madison, Wisconsin.