TechTaffy

tech:

taffy

Thomson Reuters to acquire SurePrep for $500M

By TechTaffy Desk

Thomson Reuters has signed a definitive agreement to acquire Irvine, Calif.-based SurePrep, a 1040 tax automation software and services provider, for $500 million. The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and customary closing conditions.

SurePrep uses 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. SurePrep’s core software and services include 1040SCAN, SPbinder and TaxCaddy. Thomson Reuters and SurePrep have been partnering since April 2022, providing complementary solutions for tax and accounting professionals.

SurePrep is expected to generate approximately $60 million of revenue in 2022 and grow in excess of 20% annually in the next few years, according to a statement by Thomson Reuters.

[Image courtesy: SurePrep]

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.