Accounting and advisory firm BDO USA announced the separate acquisitions of customs and international trade regulation consulting firm Global Trade Strategies (GTS) and crisis management company Lootok.
The GTS acquisition coincides with BDO’s launch of a new customs and international trade practice and expands the resources of the company’s international tax services.
BDO’s new customs and international trade practice is designed to help multinational companies navigate the complex rules governing the cross-border movement of goods and services, with the goal of minimizing duty, VAT, and excise tax payments while maximizing corporate customs and trade compliance. Damon V. Pike, who will join BDO as a principal, will lead the practice. The personnel of GTS have also joined BDO and will be based in the firm’s South Florida offices.
The acquisition of Lootok bolsters BDO’s proactive risk-management capabilities, offering clients an end-to-end suite of services across the risk continuum. Lootok integrates military models, cognitive science, design thinking, and game theory with industry risk-management standards to create new ways of understanding the disciplines of business continuity, crisis management, and enterprise risk management.
The acquisition of Lootok was effective as of January 1. Lootok CEO Sean Murphy has joined BDO as managing director and will lead its crisis management and business continuity practice. The professionals of Lootok have also joined BDO and are now based in the firm’s 100 Park Avenue office in New York City.