08:28 AM EDT, 10/22/2024 (MT Newswires) -- Thomson Reuters ( TRI ) on Tuesday said it acquired Materia, a US-based startup that specializes in the development of an AI assistant for the tax, audit and accounting profession. Financial details were not disclosed.

This transaction is complementary to Thomson Reuters AI roadmap, the company said.

"Our vision is to provide each professional we serve with a Gen AI assistant. Materia will further accelerate this vision for our tax, audit and accounting customers," said David Wong, chief product officer. "Once fully integrated, Materia will transform work and unify the entire customer experience with applications across our tax, audit, and accounting portfolio."

Thomson Reuters Ventures was an early investor in Materia.