10:15 AM EST, 01/02/2025 (MT Newswires) -- Thomson Reuters ( TRI ) acquired cPaperless, doing business as SafeSend, for $600 million in cash to expand in tax automation.

SafeSend, a cloud-native technology provider for tax and accounting professionals. is expected to generate revenue of $60 million in 2025 before fair value adjustments to acquired deferred revenue and to post annual growth of 25% in the next few years, Thomson Reuters ( TRI ) said Thursday in a statement.

SafeSend is based Ann Arbor, Michigan, and has 235 employees.

Shares of Thomson Reuters ( TRI ) rose 1.2% in recent Thursday trading.

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