CBIZ Acquisition of Marcum Marks Latest Audit Market Shakeup (2)

CBIZ Inc., the only publicly traded accounting service provider in the US, will acquire Marcum LLP in a $2.3-billion deal that represents the latest shakeup in the audit industry.

The deal, expected to close by year end, would make CBIZ the seventh largest US accounting firm and could bring in $2.8 billion in combined annual revenue, the firm said.

CBIZ plans to acquire Marcum’s consulting and tax services. Marcum’s audit services are set to be acquired by Mayer Hoffman McCann P.C., a Kansas City, Mo.-based firm that is CBIZ’s audit arm, run through a separate legal entity. CBIZ has ...