Subj : Thomson Reuters just spent $600m on a tax automation start-up
To   : All
From : TechnologyDaily
Date : Fri Jan 03 2025 17:30:04

Thomson Reuters just spent $600m on a tax automation start-up

Date:
Fri, 03 Jan 2025 17:00:00 +0000

Description:
cPaperless/SafeSend acquired by Thomson Reuters in a deal with $600 million.

FULL STORY
======================================================================SafeSend
 is now owned by Thomson Reuters after $600m deal 70% of Americas 500 largest 
companies use the services 25% annual growth predicted in the next few years 

Thomson Reuters has splashed out $600 million on a company specializing in 
tax automation software. 

The company confirmed it had acquired cPaperless LLC, which operates under 
the SafeSend name, as it hopes to make tax preparer and taxpayers workflowers 
more efficient for US customers. 

Based in Michigan and with a headcount of 235, SafeSend was founded in 2008. 
In its announcement of the acquisition, Thomson Reuters revealed that 70% of 
the USs 500 biggest companies use the companys solutions. Thomson Reuters 
acquires cPaperless/SafeSend 

Tax return last-mile processes, like assembly, review, taxpayer e-signature, 
and delivery, are the key focus of SafeSend software, which helps improve the 
efficiency of the painful process with an injection of automation. 

By integrating SafeSend's innovative technology with our existing solutions, 
we're simplifying tax preparation workflows, and meeting the dynamic demands 
of businesses we serve to help them thrive in an increasingly complex tax 
landscape," noted Elizabeth Beastrom, president of Tax, Audit and Accounting 
Professionals at Thomson Reuters. 

SafeSend co-founder Steve Dusablon added: 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. 

Under its new leadership, Thomson Reuters predicts 25% annual growth for 
SafeSend in the next few years. 

SafeSend co-founder Andrew Hatfield added: We are both excited to be 
continuing our journey with Thomson Reuters. His comment indicates that the 
company could continue to operate normally under its new Thomson Reuters 
ownership. 

A Thomson Reuters spokesperson told TechRadar Pro in an email: "I can confirm 
that Thomson Reuters is pleased to welcome all SafeSend employees to the 
company as part of the acquisition." You might also like Weve listed the best 
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the best UK tax software Sage wants to help UK small businesses deal with 
changing tax rules



======================================================================
Link to news story:
https://www.techradar.com/pro/thomson-reuters-just-spent-usd600m-on-a-tax-auto
mation-start-up


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