SafeSend Acquired by Thomson Reuters for $600M

Deal News | Jan 03, 2025 | Goodwin

In a significant move in the tax technology sector, SafeSend, a provider of technology solutions for tax and accounting professionals, has been acquired by Thomson Reuters for $600 million in cash. Advised by Goodwin, the acquisition aims to integrate SafeSend into Thomson Reuters' broader suite of tax software solutions, maintaining its role as a key market player with interoperability across various vendors. Formerly held by Lead Edge Capital, SafeSend has built a strong reputation among U.S. accounting firms, serving many of the nation's top firms with its cloud-native software that enhances efficiency by automating critical tasks in tax return processes. With this acquisition, Thomson Reuters expands its capabilities in offering innovative solutions to tax professionals, leveraging SafeSend's established brand and expertise.

Sectors

  • Technology
  • Finance

Geography

  • United States – SafeSend is based in Michigan, USA, and its services are utilized by accounting firms across the country.
  • Global – Thomson Reuters and Lead Edge Capital are entities with global operations and influence within their respective sectors.

Industry

  • Technology – The article discusses SafeSend, a technology company providing software solutions for tax and accounting professionals.
  • Finance – SafeSend operates within the financial sector, offering solutions for tax professionals and accounting firms.

Financials

  • $600 million – The cash amount paid by Thomson Reuters to acquire SafeSend.

Participants

NameRoleTypeDescription
SafeSendTarget companyCompanyA Michigan-based provider of cloud-native technology solutions for tax and accounting professionals.
Thomson ReutersBidding Company/BuyerCompanyA leading global provider of news and information-based tools to professionals.
GoodwinLegal advisorCompanyThe law firm that advised SafeSend on the acquisition deal.
Lead Edge CapitalSelling Company/VendorCompanyA growth equity firm with a strong track record in investing in software, internet, and tech-enabled businesses.