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Crosslink Professional Tax Solutions (Cpts) Announces The Acquisition Of Utax Software

Jul 07, 2023•over 2 years ago

Acquiring Company

CrossLink Professional Tax Solutions (CPTS)

Acquired Company

uTax Software

AccountingFinancial ServicesSoftware

Description

CrossLink Professional Tax Solutions ("CPTS", "CrossLink", or the "Company"), a leading provider of professional tax software solutions to professional tax preparers across the United States, announced today the acquisition of uTax Software, LLC ("uTax").

Company Information

Company

CrossLink Professional Tax Solutions (CPTS)

About

CPTS, makers of the CrossLink suite of tax software products, is a leading provider of tax solutions for the professional tax preparation market. With operations in Orlando, FL, Lathrop, CA, and Harrisburg, IL, CPTS is dedicated to enabling professional tax preparers to grow their tax-based businesses with industry leading tax software solutions. Additional information regarding CrossLink Professional Tax Solutions can be found on www.CrossLinkTax.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed