Thomson Reuters closes acquisition of tax automation firm SurePrep


Thomson Reuters has officially closed the acquisition of SurePrep, a tax automation software and services firm, for $500m in cash.

Reuters had previously signed an agreement to acquire the California-based SurePrep back in November 2022.

According to FinSME, with the acquisition, SurePrep will become part of Tax and Accounting Professionals operations, with revenues in both Tax and Accounting Professsionals and Corporates.

In addition, Reuters will add David Wyle and SurePrep colleagues to the team, something aimed at ensuring continuity for customers, employees and partners.

SurePrep is expected to generate approximately $60m of revenue in 2022 and grow in excess of 20% annually in the next few years following the acquisition.

Founded in 2002, SurePrep claims it is a leader in 1040 productivity for CPA companies. It offers intergration with existing tax software to automate and streamline the 1040 process for both the taxpayer and CPA.

The company said its solutions are used by more than 23,000 tax professionals ranging from Big 4 firms to sole practitioners to reduce administrative costs, automate workpaper preparation, maximise review efficiency and improve client service.

Singapore has appointed Lim Tuang as its first ever government chief sustainability officer to drive the government’s sustainability efforts.

According to ESG Today, the appointment follows the establishment in 2021 of the Singapore Green Plan 2030, which is the government’s sustainable transition strategy aimed at strengthening its commitment to the UN’s 2030 Sustainable Development Agenda.

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