Arvo Tech, a tax strategy technology provider for small businesses, has acquired two accounting firms: Mark Murphy & Associates and Lee & Associates.
The Columbus, Ohio-based company was formerly known as Clarus Solutions and specializes in helping businesses claim federal tax credits like the Employee Retention Tax Credit and the Work Opportunity Tax Credit. The acquisitions of the two accounting firms will help clients with their tax planning and extend Arvo's reach to new industries, including retail, manufacturing, restaurants and bars.
Financial terms of the deals were not disclosed, but 16 employees are joining the Arvo team from the two firms, according to a spokesperson, and no jobs will be eliminated. Arvo is expanding its products and services as a result of the deals.
"Arvo Tech was built by tax experts to help every business better understand how to leverage programs and tax planning for better results," said Arvo Tech president Terracina Maxwell in a statement Tuesday. "By adding best-in-breed accounting support with the integration of Mark Murphy & Associates and Lee & Associates, we are expanding our capabilities to ensure we're delivering everything companies need to maximize their financial decisions and cash flow. We continue to seek partnerships with technology and service providers who share our mission of helping small businesses succeed."
Arvo partners with several payroll management and applicant-tracking technology companies, including Gusto, Bullhorn and TempWorks, to securely import data for calculating and applying for tax credits.
"Arvo is a proven leader in the market and has a track record of supporting business owners by simplifying access to tax credits, so we're thrilled to be part of a team dedicated to helping companies prepare for their financial future," said Mark Murphy, founder of Mark Murphy & Associates, in a statement.
"We realize the value of bringing these disparate parts of tax planning into one platform — and with the integration of Arvo's deep tax expertise and actionable insights, our team can serve even more small businesses," stated Lee & Associates founder Terry Lee.
