MLM Information Services to acquire tax assets

Business Publisher, July 1, 2006

MLM Information Services (New York), a company formed in 2005 by owners Warburg Pincus (New York) and b2b publishing veteran Masom Slaine, has entered into a definitive agreement to acquire to acquire Deloitte Tax LLP's (New York) COPRTAX software and related services business. No terms were given.

CORPTAX is a large-company tax compliance and planning software and support system used by over 1000 corporations and partnerships. The company has also launched ETS, an upgraded version of the CORTAX software and has been developing systems that support IRS mandates for corporate e-filings. The businesses included in the transaction include Deloitte & Touche Tax Technologies (Deerfield, IL) and Tax Technology Services (Dallas, TX).

Deloitte Tax's said its decision to sell the assets was based on a "careful analysis of the current regulatory environment and a review of strategic alternatives for the business." Chairman/CEO Slaine said that "we will continue to invest in the product so that now, under independent ownership, every customer who desires to use the product will be able to use it. We also look forward to serving Deloitte Tax going forward as they will now become one of our largest customers."