TriNet sells subsidiary Clarus R+D to Arvo Tech

TriNet (TNET) completed the sale of its wholly owned subsidiary, TriNet Clarus R+D to Arvo Tech, creator of the tax strategy solution for small businesses. TriNet Clarus R+D’s tax team, service model, and proprietary software for evaluating and preparing R&D tax credits for SMB customers are now a part of Arvo Tech. Terms of the deal were not disclosed. TriNet is divesting this business as part of its strategy to narrow its focus to high-value HR Solutions in the SMB market. TriNet customers will continue to have access to R&D tax credit solutions through a five-year agreement with Arvo Tech.