Ryan, a tax services and software provider, today announced acquiring the OneSource Property Tax and OneSource Transfer Pricing product lines from Thomson Reuters, according to a press release.
The acquisition expands Ryan’s property tax and transfer pricing offerings and team, with approximately 25 members transitioning to Ryan alongside over 600 clients.
G. Brint Ryan, chairman and CEO of Ryan, says this acquisition makes Ryan the “largest property tax software provider in North America” with the “largest property tax services team in the world.”
The OneSource Property Tax software provides a system for managing property taxes on assets, including both real and personal property, and also provides transfer pricing products for multinational corporations looking to meet compliance requirements and optimize transfer pricing data collection and reporting.
“The advent of these two product lines puts Ryan in an even stronger position to provide our clients with an integrated suite of global tax services that combines best-in-class software and services capabilities,” Brint Ryan added. “…Ryan is well-equipped to continue offering clients industry-leading results that minimize our clients’ property tax burdens and free their capital to invest, grow, and thrive.”
Today, Ryan employs over 3,600 professionals to assist over 18,000 clients across 60 countries through its myRyan work environment, according to the release.
“We are already a significant user of OneSource Property Tax and have many clients in common with the businesses that are in scope for this transaction,” stated Tim Wagner, Senior Vice President and Chief Technology Officer at Ryan, in the release.
In July, Ryan acquired a pure-play property tax management firm, Paradigm Tax Group (PTG), the national property tax practice of KPMG, as reported by Finledger.
It also recently acquired Greystone Property Tax Advisors in May, Marvin F. Poer and Company in February and Fundingportal in July, highlighting the company’s ongoing expansion efforts within the property tax segment.
In other recent proptech news, Verisk, a multinational data analytics and risk assessment firm, will integrate with Yembo, a virtual home survey and inspection provider, to view interior damage in AI-powered 3D models. California-based property management company Poplar Homes, also acquired three divisions of Chicago-based 33 Realty, including the management, maintenance and leasing divisions.