Source link : https://news7.asia/business/marcum-exits-asia-market-sells-remaining-stake-following-cbiz-deal/
In a significant move reshaping its international footprint, Marcum has sold its remaining stake in its Asia business following the recent strategic deal with CBIZ, sources tell The Wall Street Journal. The divestiture marks the accounting firm’s full withdrawal from the Asian market, underscoring a broader realignment of its global operations. This development comes as CBIZ continues to expand its reach through targeted acquisitions, positioning itself for accelerated growth across key regions.
Marcum Completes Full Exit from Asia Market Post CBIZ Partnership
Marcum LLP has finalized the sale of its remaining stake in its Asia operations, marking a complete withdrawal from the region’s market. This strategic exit follows the firm’s earlier partnership with CBIZ Inc., which was originally designed to bolster Marcum’s presence and capabilities across key Asian financial hubs. The decision underscores a shift in Marcum’s global strategy, emphasizing a more consolidated focus on domestic markets and selective international engagements.
The transaction, valued at approximately $45 million, transfers full operational control to CBIZ, which plans to integrate the Asia services into its broader consulting framework. Key highlights of the deal include:
- 100% stake acquisition by CBIZ
- Transition of over 120 employees to CBIZ
- Expansion of CBIZ’s footprint in Hong Kong, Singapore, and Shanghai
| Region | Marcum Presence (pre-sale) | CBIZ Expansion Plans |
|---|---|---|
| Hong Kong | 3… |
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Author : Noah Rodriguez
Publish date : 2025-07-13 22:01:00
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