Advisory firm Deloitte India has finalised a merger deal with home-grown firm BMR Tax Practice, CNBC-TV18 reported, quoted sources. Three of the Big Four — Deloitte, KPMG and PwC — were in race to buy the BMR Advisors' corporate tax practice unit.
According to sources, Deloitte CEO N Venkatram announced the approval of the deal in an internal communication. However, an official announcement is still to be made.
BMR Advisors offers tax, risk and M&A advisory services for domestic and global business. The firm was founded in 2004 by Mukesh Butani, Bobby Parikh and Rajeev Dimri.Currently, EY is the first in the pecking order among the big four, followed by PwC. After the merger, Deloitte will get one step closer to take the one of the two top spots in the segment.