Thomson Reuters has acquired cloud-native tax automation firm SafeSend for $600 million in cash.
Founded in 2008, SafeSend is used by tax and accounting professionals to automates the 'last-mile' of the tax return, including assembly, review, taxpayer e-signature, and delivery.
Headquartered in Michigan with 235 employees, the firm's software is used by 70% of the US's top 500 accounting firms.
Thomson Reuters says it plans to continue to offer SafeSend as a market solution, supporting the ability to interoperate with multiple vendors across a connected tax software ecosystem.
Elizabeth Beastrom, president, tax, audit and accounting professionals, Thomson Reuters, says: "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."
Separately, Thomson Reuters has closed the previously announced sale of its Regulatory Intelligence and Oden products and businesses to London regtech Cube.