07:39 AM EDT, 05/05/2025 (MT Newswires) -- FiscalNote ( NOTE ) said Monday it has signed an agreement to sell its Australian subsidiary TimeBase to Thomson Reuters ( TMSOF ) for $6.5 million.

The company said the deal is expected to close immediately after receiving antitrust approval in Australia and meeting other customary conditions.

FiscalNote ( NOTE ) said it plans to use net proceeds from the transaction to reduce its senior term loan balance.

The company reaffirmed its 2025 revenue outlook of $94 million to $100 million, and said it will continue to serve its Australian customers through its PolicyNote platform.