Ryan Acquires Thomson Reuters Property Tax Services Business; Forms the Largest Property Tax Practice in the Industry
DALLAS, Jan. 2, 2013 /PRNewswire/ -- Ryan, a leading global tax services firm with the largest indirect tax practice in North America, today announced that the Firm has acquired Thomson Reuters Property Tax Services (PTS) business. The acquisition will add an estimated 600 property tax and unclaimed property professionals, making Ryan the largest global provider of property tax services, with the largest indirect tax practice in North America and the second largest unclaimed property practice and sixth largest corporate tax practice in the United States. It will also provide a Center of Tax Excellence in India, with more than 145 professionals, and serve as a launch pad for Ryan's entry into South Asia, while extending the Firm's indirect tax practice to support emerging markets such as China.
This acquisition will represent a dramatic shift in the market leadership structure of the tax services industry. With revenues of over $350 million annually, Ryan becomes the largest global provider of tax services outside of the major accounting firms. With 1,600 professionals serving clients in more than 40 countries, Ryan will deploy the largest workforce in the industry, unencumbered by accounting firm rules, restrictions, and regulations. As a result, the Firm can compete directly with the accounting firms and not be restricted in its approach to tax minimization and advocacy.
Ryan's acquisition of Thomson Reuters PTS will form the largest property tax practice in the world, with more than 750 global professionals leveraging the expertise, methodologies, and best practices of both groups. Ryan's strategy to ensure the success of the acquisition is built on the maximum retention of Thomson Reuters PTS professionals. Its leadership team will have a prominent role in the future direction of the Ryan Property Tax practice, as well as the entire Firm. And the ability of its professionals to deliver even higher levels of client service and results will be unleashed through Ryan's innovative and award-winning myRyan work environment, recognized worldwide for incredible employee flexibility and freedom.
Revenue generation and accelerated return on investment will be realized by offering Thomson Reuters PTS clients additional access to Ryan's integrated suite of state, local, federal, and international tax services. New and existing clients can leverage a single-source solution of more than 45 global tax practices for improving cash flow and minimizing tax liabilities, backed by the highest level of client service in the industry.
Ryan recently became the first company to ever achieve the prestigious International Customer Service Standard (ICSS) Gold Certification from the Customer Service Institute of America (CSIA). This exclusive, three-year certification is the result of an extensive review of Ryan's client service and quality management processes, and independently validates a new international standard of client service excellence set by the Firm. This standard of excellence will be the framework used to maintain the highest level of client service and results during the integration of Thomson Reuters PTS.
"In just 22 years, Ryan has become the largest firm dedicated to corporate tax services, capturing substantial market share from competitive firms that have been operating for more than 150 years," said G. Brint Ryan, Chairman and CEO of Ryan. "As this acquisition launches an exciting new phase of global growth for our Firm, all of us remain committed to providing our clients world-class service and superior results."
Ryan is an award-winning global tax services firm, with the largest indirect tax practice in North America and the sixth largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a two-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 1,600 professionals and associates serves over 6,500 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.
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