Thomson Reuters, a global leader in content and technology solutions, has announced the acquisition of SafeSend, a Michigan-based provider of cloud-native technology for tax and accounting professionals.
The deal, valued at $600m in cash, underscores Thomson Reuters’ commitment to advancing automation in the tax sector.
SafeSend, founded in 2008, specialises in automating the “last-mile” of the tax return process. Its solutions streamline critical steps such as tax assembly, review, taxpayer e-signature, and delivery, helping professionals eliminate manual and time-intensive tasks. Currently, SafeSend serves accounting firms of all sizes, including 70% of the top 500 firms in the U.S. The company employs 235 people and will continue to operate as a standalone market solution under Thomson Reuters.
The acquisition aligns with Thomson Reuters’ strategy to address the evolving needs of tax professionals and their clients.
Elizabeth Beastrom, president of Tax, Audit, and Accounting Professionals at Thomson Reuters, said, “The needs of our customers and their clients drive every decision we make at Thomson Reuters. This acquisition underscores our commitment to addressing the evolving challenges faced by tax professionals and taxpayers alike.
“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.”
SafeSend co-founders Steve Dusablon and Andrew Hatfield echoed these sentiments, emphasising their enthusiasm about joining Thomson Reuters. Dusablon remarked, “Today marks an exciting new chapter for SafeSend customers.
“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.”
Thomson Reuters expects SafeSend to generate $60m in revenue in 2025, with an annual growth rate exceeding 25% in the coming years.
SafeSend previously raised an undisclosed amount in 2021 from Lead Edge Capital
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