Thomson Reuters buys tax software company SafeSend for $600M to expand its accounting tools.

Thomson Reuters has acquired SafeSend, a Michigan-based tax automation software company, for $600 million. SafeSend's cloud-based tools streamline the tax filing process, including e-signatures and delivery. The company, used by over 70% of the top 500 U.S. accounting firms, is projected to generate around $60 million in revenue by 2025 with annual growth of at least 25%. Thomson Reuters plans to continue offering SafeSend’s products to support accounting professionals' tax preparation needs.

3 months ago
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