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Thomson Reuters acquires owner of tax software firm SafeSend for $600 million

TORONTO 鈥� Thomson Reuters Corp. says it has acquired a U.S. tax and accounting software business for $600 million. The Michigan-based company is called cPaperless LLC but operates under the SafeSend name. It has 235 employees.
Tara Deschamps, The Canadian Press
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Thomson Reuters Corp. says it has acquired a cloud-based tax and accounting software business for $600 million. A Thomson Reuters office sign is shown in Boston, Thursday August 6, 2009. THE CANADIAN PRESS/AP-Eric J. Shelton

TORONTO 鈥� Thomson Reuters Corp. says it has acquired a U.S. tax and accounting software business for $600 million.

The Michigan-based company is called cPaperless LLC but operates under the SafeSend name. It has 235 employees.

Once the acquisition is complete, Thomson says it intends to keep offering SafeSend products.

Its acquisition of SafeSend is expected to generate about $60 million in revenue in 2025 before the impact of fair value adjustments to acquired deferred revenue.

Toronto-based Thomson is projecting that revenue to grow by at least 25 per cent annually in the next few years.

The cash transaction advances Thomson's push to support accounting professionals by offering them tools to make tax preparation more efficient.

This report by The Canadian Press was first published Dec. 2, 2025.

Tara Deschamps, The Canadian Press