Taxation software specialists FDS Taxpoint has been bought from IBM for u3.75m in a management buy-out. Ray Sieber, Taxpoint’s manager for 12 years, led the MBO. The business was developed as a division of Data Sciences, an IBM subsidiary since March last year. Taxpoint supplies almost half the UK’s accountancy firms with software. Its new owners predict fast-rising demand for its personal and capital gains tax software to deal with self-assessment and electronic lodgement.
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