Thomson Reuters has purchased SafeSend for $600 million.
SafeSend, based mostly within the U.S., offers cloud-based software program for tax and accounting professionals. Based in 2008, SafeSend automates the ultimate steps of tax return preparation, together with meeting, evaluation, e-signatures, and supply, serving to customers save time on guide duties.
It’s utilized by many accounting corporations, together with 70% of the highest 500 corporations within the U.S. The corporate is predicated in Michigan with 235 workers.
This acquisition helps Thomson Reuters enhance its choices for tax and accounting professionals by streamlining workflows for each tax preparers and shoppers. Thomson Reuters plans to maintain SafeSend as an answer that works with different tax software program.
Elizabeth Beastrom, President of Tax, Audit, and Accounting at Thomson Reuters, stated, “This buy reveals our dedication to fixing challenges in tax preparation. By integrating SafeSend’s know-how, we intention to simplify tax workflows.”
SafeSend is anticipated to make about $60 million in income in 2025 and develop over 25% yearly within the subsequent few years.
Featured picture credit score: edited from freepik
