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Thomson Reuters acquires AI accounting assistant developer Materia

TORONTO 鈥� Thomson Reuters Corp. says it has acquired Materia, a U.S.-based startup developing an artificial intelligence-powered assistant for the tax, audit and accounting profession. Financial terms of the deal were not immediately available.
Canadian Press
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Thomson Reuters Corp. logo is shown in a handout. The company says it has acquired Materia, a U.S.-based startup developing an AI assistant for the tax, audit and accounting profession. THE CANADIAN PRESS/HO

TORONTO 鈥� Thomson Reuters Corp. says it has acquired Materia, a U.S.-based startup developing an artificial intelligence-powered assistant for the tax, audit and accounting profession.

Financial terms of the deal were not immediately available.

Thomson Reuters says the deal is part of its plan to provide AI tools to the professions it serves.

Materia was founded in 2022.

The company's AI assistant helps accountants by automating and improving research and workflows.

Thomson Reuters Ventures was an early investor in Materia.

This report by The Canadian Press was first published Oct. 22, 2024.

Companies in this story: (TSX:TRI)

The Canadian Press