Business and professional publishing giant The Thomson Corp. observed tax season this month with its acquisition of CrossBorder Solutions, a tax software company. CrossBorder, which has operations in New York and London, will be integrated into the Thomson Tax & Accounting unit. Thomson officials said the deal will enable the company to expand its presence in the tax provisions market and move into the transfer pricing/tax market.
CrossBorder Solutions is known in its industry for products that enable transfer pricing documentation and FAS 109 compliance. Its customer base includes multinational, publicly-traded organizations in the U.S. and Europe.
Thomson is always on the look-out for acquisitions that will enable the publishing powerhouse to bolster the offerings it provides to current customers and yield a new customer base in the process. This deal is no different. While Thomson certainly isn't afraid to build (over the years, they have launched several innovative products in this market as well as others in which they compete). But they are also not against buying in order to increase their market share. Thomson’s main goal is to provide customers with the best products in the marketplace and the company has always done what's necessary to accomplish that. Look for more acquisitions, both large and small, this year as a result.