On July 19, 2024, the owners of both companies legally confirmed their intention with signatures, and the final seal of approval on the agreement is expected in early autumn, following the necessary regulatory approvals. The legal merger of the companies is scheduled for January 1, 2025, when VGD Hungary Tanácsadó Kft. will be integrated into WTS Klient Kft.
With this merger, WTS Klient, a member of WTS Global—one of the world’s leading tax and financial advisory networks—will become the largest service provider in the Hungarian accounting and tax advisory market behind the Big Four.
“We are delighted to further strengthen our market position through the merger of WTS Klient and VGD Hungary. As a key market player, we will be able to lead the rapid technological advancement in our industry and play a leading role in the consolidation of the accounting and tax advisory market. Over the past 20-25 years, the two companies have developed in parallel and in a friendly relationship. It is time to combine the strengths of our highly trained staff to serve our more than one thousand clients with the full spectrum of advisory services,” said Zoltán Lambert, managing partner of WTS Klient, regarding the expansion.
“The dynamic, dedicated expert team at VGD Hungary has always placed great emphasis on providing long-term, supportive partnerships and effective solutions to clients in the international accounting, consulting, and auditing markets. With the merger, taking into account the organic growth in 2024, we are creating a company with over 350 employees and a revenue exceeding HUF 6 billion. This will allow us to fulfill our mission on an even more secure foundation,” stated Gyöngyi Ferencz, founding partner of VGD Hungary Kft., who will continue her work as a business line leading partner in the new entity.
Through this joint decision, the combined international knowledge base of the two companies will multiply in both domestic and cross-border transactions, enabling them to support businesses even more efficiently in the future as part of the WTS international network, the companies tell the Budapest Business Journal.
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