{"id":9321,"date":"2010-10-25t08:18:43","date_gmt":"2010-10-25t12:18:43","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=9321"},"modified":"2010-10-27t10:21:01","modified_gmt":"2010-10-27t14:21:01","slug":"ma-fever-grips-major-cpa-firms","status":"publish","type":"post","link":"\/\/www.g005e.com\/2010\/10\/25\/ma-fever-grips-major-cpa-firms\/","title":{"rendered":"m&a fever grips major cpa firms"},"content":{"rendered":"
economic slowdown sparks shake-outs, consolidation<\/strong><\/p>\n by rick telberg<\/em><\/p>\n at a pace perhaps not seen since 1999 when the threat of the “y2k” bug stoked huge technology updates, today’s leading accounting firms and finance organizations are overhauling their systems, personnel and strategies in the face of one of the worst economic slumps on\u00a0record.<\/p>\n accounting firms are getting positioned to either emerge stronger from the slump or to enter the mergers-and-acquisitions derby. they have thinned out their rosters and many are reportedly re-hiring. they are investing heavily in technology after taking a hiatus last year. and they are lighting a fire under business development\u00a0programs.<\/p>\n but it’s in the mergers-and-acquisition arena that we’re already seeing the most visible signs of the predictable consolidation and shake-out that traditionally accompanies economic\u00a0contractions.<\/p>\n the latest high-profile deals include:\u00a0\u00a0\u00a0\u00a0 <\/p>\n and the list goes on.<\/p>\n the new york market has been notable, with the number of deals tracking in line or better than the 30 or so per year of the last four years:<\/p>\n according to rf resources, an independent executive recruitment and mergers and acquisition agency for cpa firms, the deals so far amount to a combined $1.7 billion in\u00a0fees.<\/p>\n new york seems to make for particularly inviting mating grounds, according to robert fligel of rf resources. “there is more concentrated potential business here than almost anywhere in the world,” fligel\u00a0said.<\/p>\n but new york may only be a microcosm for the nation as a whole.<\/p>\n “the competition is intense for sure and costs of doing business high,” fligel says. “but i do think there is enough business to go around, especially considering how the world is much smaller. it’s not unusual to hear of small or mid-sized firms creating new ventures in india or china as part of their strategy for new business. it doesn’t have to be in your backyard.”<\/p><\/blockquote>\n it takes strong leadership, a talented staff and up-to-date processes to make a firm ready for a deal. but it also takes strong leadership, a talented staff and up-to-date processes to make a firm ready to compete in today’s market.<\/p>\n so you don’t really have a much of a choice, do you?<\/p>\n\n
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