Thomson Reuters has bought SafeSend for $600 million.
SafeSend, based in the U.S., provides cloud-based software for tax and accounting professionals. Founded in 2008, SafeSend automates the final steps of tax return preparation, including assembly, review, e-signatures, and delivery, helping users save time on manual tasks.
It is used by many accounting firms, including 70% of the top 500 firms in the U.S. The company is based in Michigan with 235 employees.
This acquisition helps Thomson Reuters improve its offerings for tax and accounting professionals by streamlining workflows for both tax preparers and clients. Thomson Reuters plans to keep SafeSend as a solution that works with other tax software.
Elizabeth Beastrom, President of Tax, Audit, and Accounting at Thomson Reuters, said,
“This purchase shows our commitment to solving challenges in tax preparation. By integrating SafeSend’s technology, we aim to simplify tax workflows.”
SafeSend is expected to make about $60 million in revenue in 2025 and grow over 25% annually in the next few years.
Featured image credit: edited from freepik
