CBIZ, Inc. to acquire PHBV Partners

theflyonthewall.com

CBIZ (CBZ) announced that it has signed a definitive agreement to acquire the non-attest assets of PHBV Partners, the government health care practice and separate legal entity of CliftonLarsonAllen, effective December 31, subject to customary closing conditions. Concurrent with this transaction, Myers and Stauffer L.C. announced it has signed a definitive agreement to acquire the attest business of PHBV Partners L.L.P. CBIZ maintains an administrative service agreement with Myers and Stauffer L.C. The two companies are separate and independent legal entities that have worked together since 1998 to serve clients' business needs. This transaction is expected to add approximately $30M to CBIZ revenue and approximately 4c-5c to diluted earnings per share in 2013.

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