Thomson Reuters (NYSE/TSX: TRI), a global leader in content and technology, has acquired cPaperless, LLC, operating as SafeSend, for $600 million in cash. The acquisition reinforces Thomson Reuters’ commitment to enhancing efficiency in tax and accounting processes through advanced automation.
What SafeSend Brings to the Table
Founded in 2008, SafeSend is a cloud-native technology provider that automates the final stages of tax return processing, including:
✅ Tax return assembly
✅ Review and e-signature collection
✅ Secure document delivery
SafeSend’s innovative solutions eliminate manual tasks, saving time for tax professionals. Currently, its software is used by firms of all sizes across the U.S., including 70% of the top 500 accounting firms. Headquartered in Michigan, SafeSend has 235 employees.
Strategic Impact of the Acquisition
This acquisition aligns with Thomson Reuters’ vision to enhance tax workflows for professionals and taxpayers nationwide. The company plans to continue offering SafeSend as a standalone market solution while ensuring seamless integration with multiple tax software providers.
“Our customers drive every decision we make. This acquisition reflects our dedication to solving tax professionals’ challenges through cutting-edge automation,” said Elizabeth Beastrom, President of Tax, Audit & Accounting at Thomson Reuters.
“By integrating SafeSend’s technology with our existing solutions, we are streamlining tax preparation and helping businesses thrive in an increasingly complex tax environment.”
SafeSend’s co-founders, Steve Dusablon and Andrew Hatfield, expressed enthusiasm about joining Thomson Reuters, emphasizing their shared vision of a fully automated tax workflow solution.
“Since launching SafeSend, we’ve focused on listening to customers and simplifying tax processes. Joining forces with Thomson Reuters allows us to accelerate innovation and continue delivering industry-leading solutions,” said Dusablon.
Growth Potential & Market Outlook
SafeSend is expected to generate $60 million in revenue in 2025, before fair value adjustments, and maintain an annual growth rate exceeding 25% in the coming years.
With this acquisition, Thomson Reuters solidifies its position as a leader in tax technology, empowering accounting firms with advanced automation tools to improve efficiency and accuracy.
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