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Thomson Reuters Corporation Signs Definitive Agreement to Acquire SurePrep, LLC
Thomson Reuters Corporation Signs Definitive Agreement to Acquire SurePrep, LLC ...
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[{"type":"text","content":"\n \n \n \n Thomson Reuters Corporation Signs Definitive Agreement to Acquire SurePrep, LLC\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 11, 2022\n \n \n /CNW/ -- Thomson Reuters Corporation (\"Thomson Reuters\") (NYSE / TSX: TRI) announced today it has signed a definitive agreement to acquire SurePrep, LLC (\"SurePrep\"), a US-based leader in 1040 tax automation software and services, for\n \n $500 million\n \n in cash (the \"Proposed Transaction\"). Thomson Reuters expects to receive an estimated tax benefit with a net present value at time of purchase of approximately\n \n $60 million\n \n as part of the transaction.\n \n \n \n \n \n \n \n \n \n Founded in 2002, SurePrep is focused on helping accounting firms increase productivity and profitability while promoting a completely digital tax workflow. SurePrep's products and solutions are used by over 23,000 tax professionals at CPA firms, wealth management firms and others. Closing of the transaction is subject to specified regulatory approvals and customary closing conditions and is anticipated to occur in the first quarter of 2023.\n \n \n With a consumer-grade mobile friendly design, SurePrep leverages artificial intelligence to automate the collection of digital documents directly from clients and the processing of those documents, automatically extracting and populating key data into the firm's tax compliance software to help CPAs be more efficient. SurePrep's core software and services include 1040SCAN, SPbinder and TaxCaddy.\n \n \n SurePrep is expected to generate approximately\n \n $60 million\n \n of revenue in 2022 and g...