The Toronto-headquartered company announced its all-cash acquisition on Thursday. SafeSend, headquartered in Michigan, serves over 70 per cent of the U.S.’s top 500 accounting companies. In August, it released an AI-powered product called SafeSend One, which fully automates the tax process. (The Logic)
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The Toronto-headquartered company announced its all-cash acquisition on Thursday. SafeSend, headquartered in Michigan, serves over 70 per cent of the U.S.’s top 500 accounting companies. In August, it released an AI-powered product called SafeSend One, which fully automates the tax process. (The Logic)
Talking point: Thomson Reuters plans to integrate SafeSend with its existing suite of accounting and tax products. SafeSend, which currently has 235 employees, expects to make around US$60 million in revenue in 2025, according to Thursday’s press release. Thomson Reuters has been steadily growing its accounting business, building on an existing partnership with SafeSend to facilitate electronic tax returns. In 2022, the data giant acquired California-based tax automation firm SurePrep for US$500 million.
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