Thomson Reuters Acquires SafeSend for $600 Million

Thomson Reuters Corp. has acquired cPaperless, LLC, operating as SafeSend, for $600 million in cash, enhancing its offerings for tax and accounting professionals. SafeSend automates the last step of the tax return process, including assembly and delivery, and serves 70% of the top 500 accounting firms in the U.S. The acquisition is projected to generate approximately $60 million in revenue by 2025, with anticipated annual growth exceeding 25%. Thomson Reuters aims to integrate SafeSend's technology to streamline workflows for tax preparers and taxpayers, supporting a connected tax software ecosystem. Co-founders Steve Dusablon and Andrew Hatfield expressed enthusiasm for the partnership, emphasizing a shared vision for improving tax processes. This move aligns with Thomson Reuters’ commitment to address the evolving challenges faced by tax professionals in a complex regulatory environment.