CBIZ Acquires Marcum in $2.3 Billion Deal
Marcum to Become Part of National Accounting Firm
Transaction Includes Sale of Marcum's Attest Business
New York, NY - CBIZ, a leading provider of financial services and insurance, announced on Wednesday that it has acquired Marcum, one of the largest accounting firms in the United States, for $2.3 billion.
The deal, which was structured as a cash-and-stock transaction, will see CBIZ pay half the acquisition price in cash and the remainder in shares of CBIZ common stock. Concurrent with the acquisition, Marcum's attest business will be absorbed by Mayer Hoffman McCann PC, another national accounting firm.
The acquisition of Marcum marks a significant expansion for CBIZ in the accounting services sector. Marcum, which has been in business for over 50 years, has a strong presence in the Northeast and a client base that includes Fortune 500 companies, government agencies, and nonprofit organizations.
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