M&A Deal Summary

Thomson Reuters Acquires Materia AI

On October 22, 2024, Thomson Reuters acquired software company Materia AI

Acquisition Highlights
  • This is Thomson Reuters’ 13th transaction in the Software sector.
  • This is Thomson Reuters’ 33rd transaction in the United States.
  • This is Thomson Reuters’ 9th transaction in New York.

M&A Deal Summary
Date 2024-10-22
Target Materia AI
Sector Software
Buyer(s) Thomson Reuters
Deal Type Add-on Acquisition

Target

Materia AI

Brooklyn, New York, United States
Materia AI specializes in the development of an agentic AI assistant for the tax, audit and accounting profession. Materia AI was founded in 2022 and is based in Brooklyn, New York.

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Buyer(S) 1

Buyer

Thomson Reuters

Toronto, Ontario, Canada
Category Company
Founded 1851
Sector Information Services
Employees25,600
Revenue 6.8B USD (2023)
DESCRIPTION
Thomson Reuters' office in Eagan, Minnesota.
Thomson Reuters' office in Eagan, Minnesota.

Thomson Reuters is an information source for businesses and professionals. Thomson Reuters delivers information to decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs people and operates in over 100 countries. Thomson Reuters was originally incorporated in 1851 and is headquartered in Toronto, Ontario.

DEAL STATS #
Overall 57 of 58
Sector (Software) 13 of 13
Type (Add-on Acquisition) 50 of 51
State (New York) 9 of 9
Country (United States) 33 of 34
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-03 FindLaw

Eagan, Minnesota, United States

FindLaw is a provider of online legal information and solutions for the legal community, businesses and individuals. FindLaw was founded in 1995 and is based in Eagan, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-02 SafeSend

Ann Arbor, Michigan, United States

SafeSend is a cloud-native provider of technology for tax and accounting professionals. The company automates the 'last-mile' of the tax return, including assembly, review, taxpayer e-signature, and delivery. Its software solves key pain points for customers and their clients by eliminating time-consuming manual tasks. SafeSend is based in Ann Arbor, Michigan.

Buy $600M
Mergr

Product

Company

Legal