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Thomson Reuters Acquires SafeSend for $600M to Enhance Tax Solutions

Author

Slice of Finance Team
08 Jan

Key Highlights:

  • Thomson Reuters acquires SafeSend for $600M in cash to advance tax workflow innovation.

  • SafeSend automates tax return processes, serving 70% of the U.S. top 500 accounting firms.

  • Acquisition reinforces Thomson Reuters' commitment to streamlined, connected tax ecosystems.

  • SafeSend to remain a market solution, interoperating with multiple vendors.

  • SafeSend projects 25% annual growth with expected $60M revenue in 2025.

Source: PR Newswire

Notable Quotes:

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"This acquisition underscores our commitment to addressing the evolving challenges faced by tax professionals and taxpayers alike."

Elizabeth Beastrom, President, Tax, Audit and Accounting Professionals at Thomson Reuters
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"Becoming a part of Thomson Reuters will enable us to accelerate product development efforts and realize our shared vision of an end-to-end tax workflow solution."

Steve Dusablon, Co-Founder at SafeSend
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"Since we founded the company, we've focused on listening to our customers and building solutions to simplify the tax process."

Andrew Hatfield, Co-Founder at SafeSend

Why This Matters:

This acquisition highlights Thomson Reuters' strategic push to strengthen its offerings in the tax and accounting sector. By integrating SafeSend’s cutting-edge automation technology, the company aims to alleviate workflow inefficiencies for tax professionals and firms nationwide. With 70% of the U.S.'s top accounting firms already leveraging SafeSend, this partnership will enhance operational efficiency, support a connected tax software ecosystem, and drive innovation in a rapidly evolving tax landscape.