Thomson Reuters to purchase tax software program supplier SurePrep for $500 million

(Reuters) -Thomson Reuters Corp mentioned on Friday it could purchase SurePrep LLC, a U.S.-based supplier of tax automation software program and providers, for $500 million in money.

The knowledge firm has been partnering since April with 20-year-old SurePrep, whose merchandise and options are utilized by greater than 23,000 tax professionals.

SurePrep is projected to generate about $60 million in income in 2022 and is anticipated to develop greater than 20% yearly within the subsequent few years.

“This transaction builds on our current partnership/reseller association to ship our imaginative and prescient of end-to-end tax automation that solves our prospects’ greatest ache factors,” mentioned Dave Wyle, Chief Govt of SurePrep.

Thomson Reuters (NYSE:), which is the mother or father of Reuters Information, expects the deal to shut within the first quarter of 2023.