CBIZ is buying accounting firm Marcum for about 2.3 billion in stock. In the deal, expected to be closed in the fourth quarter, CBIZ is buying the non-attest operations of Marcum.
The deal is expected to produce a combined company with annual revenue of $2.8 billion with 10,000 employees and more than 135,000 employees. The attest business is being sold to Mayer Hoffman McCann.
That announcement came as CBIZ reported results for the second quarter ended June 30 with net income of $19.8 million, down from $26.9 million in last year’s corresponding period. Revenue for the most recently ended period was $420 million, an increase of 5.4 percent from $398.5 million a year earlier
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
