Thomson Reuters Acquires SafeSend for $600M to Enhance Tax Solutions
Slice of Finance Team
01/07/2025
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
Quotes
“ "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
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.
