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Innovative Consulting Services Inc., a tax-consulting business formed by George M. Mitten and Scott J. Weaver in August 1991, has merged its practice with Geo. S. Olive & Co., one of the largest and oldest accounting firms in Indianapolis.
Financial terms of the deal, which was finalized Feb. 10, were not disclosed.
Innovative Consulting had been growing successfully on its own, Mitten said, "but the. opportunity that Olive gives us puts us about five years ahead of our original business plan, especially when you talk about staffing and number of clients." Mitten was Innovative Consulting's chairman of the board. He is now a partner at Olive.
Innovative Consulting's new name is ICS Consulting Services L.L.C., a division of Olive. It will remain in its current location at 5920 Castleway Drive for three to five months until its 15 employees can move to Olive's corporate headquarters at 201 N. Illinois St.
The merger brings employment at 78-year-old Olive to about 540.
Innovative Consulting has carved out a niche in uncovering overpayments of state and local taxes for its clients, then splitting the savings. That...