CBIZ to Acquire Marcum in a $2.3 Billion Deal

Two Leading Accounting and Advisory Firms Join Forces

CBIZ, with over 120 offices in 33 states, has agreed to acquire Marcum LLP in a $2.3 billion deal. The acquisition is expected to create one of the largest accounting and insurance brokerage firms in the country.

The combined firm will have over 10,000 employees and $3 billion in annual revenue. CBIZ will acquire Marcum's consulting and tax services businesses, while its audit practice will be acquired by BDO USA, LLP. The deal is expected to close in the fourth quarter of 2022.

This acquisition is a major move for both CBIZ and Marcum. CBIZ is a publicly traded company with a market capitalization of over $2 billion. Marcum is a privately held firm with over 2,500 employees. The acquisition will give CBIZ a significant presence in the New York City market, which is Marcum's home base.

The deal is also a sign of the consolidation that is happening in the accounting industry. In recent years, several large accounting firms have merged, creating a handful of very large firms. This trend is likely to continue as firms look to scale up and compete for clients.