Thomson Reuters Corporation is going to buy SurePrep LLC, a US-based tax automation software and service provider. Thomson Reuters reported that the transaction will be completed for $500 million.
Reuters has partnered with SurePrep, a 20-year-old company since last April. More than 23,000 tax professionals currently use SurePrep’s products and services.
SurePrep is expected to generate $60 million in revenue this year. Besides, the stakeholders are expecting 20 percent annual growth in the next few years.
Thomson Reuters, the parent company of Reuters News, plans to complete the acquisition by the first quarter of 2023.
