PwC buys Ellis Financial Systems for tax reporting rules

11 September 2015

PwC has acquired Ellis Financial Systems for an undisclosed sum. The deal sees Ellis’ tax related software packages move to PwC. Companies around the world now face more stringent rules on tax related activities and the software and expertise from Ellis is expected to help PwC clients streamline their tax procedures.

Ellis Financial Systems, established in 1988 by Founder and CFO Christine Thompson, focuses primarily on tax, with the stated aim “to take away the pain of tax reporting and adhering to constantly changing tax legislation.” The firm provides a number of software based solutions that aim to provide reliability, flexibility, scope and cost efficiency, which are able to servicing 200,000 individual client accounts per night as of 2014, including CGCalc* and TaxReporter. Ellis Financial Systems operates in 12 jurisdictions as of 2014.

In order to better help its clients meet the new tax information reporting requirements coming into force in the Foreign Account Tax Compliance Act (FATCA) and the OECD's Common Reporting Standard (CRS), PwC decided to acquire Ellis Financial Systems.

PwC buys Ellis Financial Systems

PwC will leverage Ellis’ multi-jurisdictional tax reporting expertise, with the firm’s software based solutions expected to be deployed to streamline the complex and demanding requirement from regulators that businesses produce detailed reports of their tax related activities to authorities globally.

“This investment means we can help clients who are looking for accurate and reliable solutions to these significant new tax transparency requirements. We think we can dramatically reduce the workload for financial institutions. Our software can process huge amounts of customer data in a secure way, for example it can generate up to 10,000 client tax reports per hour, tailored to the rules of different jurisdictions,” explains Stephen Camm, Tax Partner at PwC.

The firm will continue under the name PwC Tax Information Reporting and is operate from PwC's London office.

* CGCalc is a powerful and flexible rules-based, global tax calculation and modelling engine.



SQW Group purchases property-based regeneration consultancy

19 April 2019

UK consulting firm SQW Group has completed its first acquisition since it completed a management buyout in January 2019. BBP Regeneration joins the company having collaborated with SQW for more than 20 years.

Established in 1983, SQW Group now operates all over the world. Comprising SQW, Oxford Innovation, Oxford Innovation Services – one of the UK’s leading innovation centre operators – and Oxford Investment Opportunities Network, the organisation’s origins can be traced to Britain’s two ancient university cities: Oxford, through Oxford Trust founders, Martin and Audrey Wood, and Cambridge, through SQW’s work in producing The Cambridge Phenomenon.

The consultancy specialises in public policy, working with entities from the public, private and voluntary sectors to research, develop, implement and evaluate social and economic development interventions. It now employs over 250 people across regional offices in London, Oxford and Edinburgh, and provides business support to over 4,000 entrepreneurs and small businesses each year. At the start of 2019, SQW secured its independence in a management buyout, advised on by M&A experts from Liberty Corporate Finance and Penningtons Manches.

SQW Group purchases property-based regeneration consultancy

SQW has strengthened its position as a provider of services across the business spectrum with the acquisition of BBP Regeneration. Founded in 1994, the consulting firm specialises in land and property-based regeneration and growth schemes, and is a leading social and economic development consultancy. 

The two firms first worked together over 20 years ago, when SQW and BBP collaborated to develop the first Regional Economic Strategy for the South East. More recently, they developed an economic strategy for Thanet and are now working together in locations stretching from Cwmbran via Oxfordshire to London.

With the addition of BBP, SQW can now provide an integrated advisory service for organisations developing property schemes which deliver economic benefit to their local area. By joining SQW, meanwhile, BBP hopes to further enhance its ability to support clients in delivering property and place-making ambitions. 

Speaking about the deal, SQW CEO David Crichton-Miller commented, “The UK more than ever needs solutions to the challenges of places – of high streets under threat, of meeting housing delivery targets, and of both economically over-successful and economically challenged towns and cities – and the combination of SQW and BBP is uniquely suited to developing those solutions. [This deal] brings together critical and complementary services relating to places to serve our clients with leading edge and practical advice.”

Andy Smith, Director of BBP Regeneration, added, “SQW shares with BBP the same values of seeking to provide outstanding, practical, real world advice that helps get buildings built and places developed.  We greatly look forward to the opportunities that come from joining our two organisations together.”