Trust Tax Services of America Inc., a firm that provides trust accounting, tax, and compliance services to banks and trust companies, has acquired Faster Software Products Inc., maker of Faster fiduciary accounting software for trust and estate reporting.

Terms of the deal were not disclosed. Larry Michaels, president of New Brunswick, N.J.-based Faster Software, will become senior vice president at Trust Tax Services and will move his one-person shop to Trust Tax's Carlisle, Pa., site.

Trust Tax's president and chief executive, Robert G. Ripley Jr., said the acquisition will allow the firm to take advantage of "tremendous" growth opportunities in the market for trust and estate reporting.

Trust Tax also owns System 41, a fiduciary tax reporting software package developed by TrustData Services Inc., which it acquired in 1995.

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