TriNet, ( NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses, has acquired Clarus R+D Solutions LLC, an industry-leading, service and expertise driven, fintech solutions company that simplifies the R&D tax credit process for SMBs. Terms of the deal were not disclosed.
Clarus R+D helps SMBs take advantage of the research and development tax credit, one of the largest tax incentives available to US businesses. Clarus R+D's cutting-edge, cloud-based software platform, coupled with the deep expertise of its professional services team, delivers access, compliance, and clarity for federal and state R&D tax credits. The Clarus R+D platform has automated much of the R&D credit qualification and application process to ensure that the final incentives are optimized for each client. Businesses save valuable time as a result of the automated calculation process, while maximizing their R&D tax credit.
"With our acquisition of Clarus R+D, TriNet takes another important step towards powering the success of small and medium-sized businesses," said Burton M. Goldfield TriNet's President and Chief Executive Officer. "Many of our PEO and HCM customers qualify for R&D tax credits and do not have the time or expertise to successfully apply for them. With the addition of Clarus R+D, TriNet expands its offering to better serve these customers. I look forward to leveraging Clarus R+D to put money back in the hands of our hard-working SMB clients."
As part of the acquisition, Clarus R+D will become a wholly owned subsidiary of TriNet. In addition to Winslow, all other members of the Clarus leadership team will remain in their same (or similar) roles.
Ice Miller LLP represented Clarus R+D as legal counsel in the transaction and Freshfields Bruckhaus Deringer US LLP assisted TriNet.