Thomson Reuters (TRI) acquired cPaperless, doing business as SafeSend, for $600 million in cash to expand in tax automation.
SafeSend, a cloud-native technology provider for tax and accounting professionals. is expected to generate revenue of $60 million in 2025 before fair value adjustments to acquired deferred revenue and to post annual growth of 25% in the next few years, Thomson Reuters said Thursday in a statement.
SafeSend is based Ann Arbor, Michigan, and has 235 employees.
Shares of Thomson Reuters rose 1.2% in recent Thursday trading.
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