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Thomson Reuters Corporation TRI-T says it has signed a deal to acquire U.S. company SurePrep, LLC, in a transaction worth US$500-million.

Under the terms of the agreement, Thomson Reuters plans to purchase the tax automation software and services company in cash in the first quarter of next year.

It plans to receive an estimated tax benefit worth around $60-million as part of the transaction.

SurePrep is expected to generate approximately $60-million in revenue in 2022 and grow over 20 per cent annually in the next few years.

Thomson Reuters says it has partnered with SurePrep since April 2022, “providing complementary solutions” for tax and accounting professionals.

SurePrep’s products and solutions are used by more than 23,000 tax professionals.

Woodbridge Co. Ltd., the Thomson family holding company and controlling shareholder of Thomson Reuters, also owns The Globe and Mail.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 12/04/24 6:40pm EDT.

SymbolName% changeLast
TRI-T
Thomson Reuters Corp
+1.21%212.43
TRI-N
Thomson Reuters Corp
-1.4%152.38

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