PwC acquires data technology firm Selera Labs
PwC is strengthening its tax reporting practice with the acquisition of Selera Labs, a market leading data technology firm. The acquisition comes at a time when tax authorities around the world are requiring increasing amounts of data from organisations.
Selera Labs’ technology platform, Data Ignition, continuously monitors logistics and transactional data, which will boost PwC’s tax reporting capabilities, becoming a key differentiator in the market.
Data Ignition will provide end-to-end monitoring of clients’ financial transactions in multiple territories, flagging any inconsistencies, and offering real-time visualisation along the audit trail to help clients with tax compliance and reporting rules.
As part of the acquisition the founder of Selera Labs, Michael Lawler, will join PwC as a partner to lead further product development and drive data solutions.
Nine Selera Labs employees will also join PwC, bringing a depth of experience in transactional data analytics and intelligent machine learning that will help the firm deliver agile data-driven solutions.
Kevin Nicholson, head of tax at PwC, said:
“This acquisition will further strengthen our tax reporting and analytics services. Organisations are looking for efficient technology solutions to help comply with new and changing reporting requirements. The innovation that Data Ignition brings could be a game changer for tax compliance.”
Jon Andrews, executive board member and head of technology and investment at PwC, said:
“We are prioritising investments in the latest innovative technologies across our business to help our clients take full advantage of the untapped data resource they’re sitting on. With access to powerful real-time insights, organisations can put trusted data at the heart of their business and have the confidence to use this to drive strategic decisions.”
Source: PwC
