Corporate solutions provider Thomson Reuters announced it has acquired Brazil’s Domínio Sistemas, a company focused on developing accounting solutions.

With the acquisition, Thomson Reuters expects to complement its products portfolio while expanding its presence in the local software market for large and small accounting firms. Having localized expertise in this segment is significant, given Brazil’s intricate tax and accounting rules.

Santa Catarina-based Domínio Sistemas has been operating for 15 years, serving approximately 17,000 customers in Brazil. The company has 653 employees and operations in 24 states through 39 business units, 20 of which are offices it owns while 19 are resellers, Thomson Reuters said.

Thomson Reuters was born from a merger between the Thomson Corporation and Reuters Group PLC in 2008, kicking off commercial operations in Brazil two years later. The company has since acquired several firms, mostly from the management and governance segments.

In an interview to BNamericas in October 2013, the company’s GRC director for Latin America, Donald Peele, said that the firm is better known in Brazil for the brands it has acquired.

Purchase price was not disclosed.