Thomson Reuters has agreed a deal worth under $50m (£30m) to take over Abacus Enterprise, a London-based tax software business owned by Deloitte, in one of the largest moves beyond its US home market for the business information group’s tax and accounting division.

Abacus currently supplies tax planning, compliance and remittance products to about 400 clients in the UK, Ireland, the Netherlands, Hong Kong and New Zealand, including half the companies in the FTSE 100 Index.