CBIZ acquires small business technology solutions provider CompuData

Cleveland-based Top 25 firm CBIZ has acquired CompuData, a Philadelphia-based accounting solutions provider specializing in software for small and medium-sized businesses.

Founded in 1971, CompuData provides cloud computing, accounting ERP software, managed IT, and security to clients. The company is a Sage Diamond Partner and a designated Microsoft Partner for both Azure Cloud and Modern Work. The company was ranked 55th in Last year's VAR 100 listAs of today, the company has 60 employees and annual sales of approximately $20 million.

CBIZ President and CEO Jerry Grisco said the company decided to acquire CompuData because of growing demand for the specific suite of services and solutions it offers. . Angela Nadeau, president and CEO of CompuData, added that CBIZ works well with reseller verticals such as financial services, construction, manufacturing, distribution, and technology.

According to a CBIZ spokesperson, CompuData will be brought to market as CBIZ CompuData for brand recognition and will become a business unit within CBIZ's Financial Services Advisory. CompuData will become a separate business unit of CBIZ's Financial Services Advisory division and will be led by Ed Guarrieri, CompuData's current COO. Meanwhile, Mr. Nadeau will remain in an advisory role to ensure a smooth transition.

The transaction will take effect from March 1, 2024. Financial terms and negotiation details of the deal were not disclosed.

This is the second acquisition announced by CBIZ this year. During February, The company announced The Company acquired Erickson, Brown & Kloster LLC of Colorado Springs, Colorado, effective February 1, 2024. In conjunction with this transaction, Meyer Hoffman McCann PC, a national independent CPA firm that works closely with CBIZ, acquired EBK's certified assets. EBK provides tax and accounting services to many types of businesses, including automotive, wholesale, medical services, real estate, manufacturing, and non-profit organizations. In February of last year, obtained Non-Certified Assets of Indianapolis-based Somerset CPAs and Advisors Top 100 Firms.