Tax & Accounting business moves into government sector with latest software acquisition
June 2, 2011- Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, has signed a definitive agreement to acquire Manatron, a provider of property tax automation and land registry software for governments and municipalities around the world, from Thoma Bravo LLC, a private equity firm.
The completion of the acquisition is subject to standard regulatory approvals. The terms of the transaction were not disclosed. Manatron will strengthen the expanding Tax & Accounting business with an additional 1,400 clients in over 20 countries and more than 40 U.S. states. Manatron's flagship solution, Government Revenue Management (GRM), is an integrated suite of web-based property recording, assessment and tax software that automates the operational, informational, and planning needs for assessors, auditors, treasurers, tax collectors and other government officials. Manatron's software solutions are being used by governments to replace antiquated systems to help improve customer service, streamline processes and manage the growing velocity of legislative changes.
"The government tax automation space is a growing segment and a natural fit with our strategy to improve workflow efficiency for our clients through innovative technology," said Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters. "Manatron has a great track record helping governments improve their collection and compliance processes, which improves accuracy, customer service and reduces costs associated with the collection process for all involved."
In addition to its market-leading property tax offerings, Manatron is also considered a leader in the provision of land administration systems - helping governments and the private sector map, audit, register and publicize the value of assets and land. As one of the only providers of end-to-end government property tax management and land administration systems, Manatron processes more than $100 billion in annual tax revenue. "Becoming part of Thomson Reuters extends Manatron's global reach, but our mission remains the same - to deliver a solution that allows our clients to efficiently process and manage their land, property tax and assessment information," said Bill McKinzie, president and chief executive officer at Manatron.
Manatron, a privately-held company and an investment of private equity firm Thoma Bravo, LLC, provides software and services for governments worldwide to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. Manatron's software manages the entire property life cycle, which includes land registry, cadastral mapping, deed recording, land records, GIS (Geographic Information System) integration, valuation, assessment administration, personal property, business licenses, cashiering, tax billing and collection, delinquents and tax sales and e-government. The company's corporate headquarters is located in Portage, Michigan and it has offices throughout the United States.
The Manatron International headquarters is located in Silver Spring, MD with additional offices in Kiev, Ukraine and Cochabamba, Bolivia. Manatron currently serves over 1,400 customers and manages approximately 45 million parcels. More information about Manatron, Inc. is available on the Company's website www.manatron.com
About Thomson Reuters
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Contacts Tina Allen David Girardin Public Relations Manager, Tax & Accounting Corporate Affairs Manager EMEA +1 646 223 4870 +44 (0) 20 7375 6814 email@example.com@thomsonreuters.com
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