Thomson Reuters announced on January 2, 2025, that it had acquired cPaperless, LLC, the company operating as SafeSend, for $600 million in cash. SafeSend makes cloud-based tax workflow software for accounting firms—not tax-preparation software for individual consumers. Its focus is the work between preparing a return and getting the completed return signed and delivered.
How much did Thomson Reuters pay for SafeSend?
The acquisition release put the cash purchase price at $600 million. Thomson Reuters estimated SafeSend would generate approximately $60 million in 2025 revenue before the impact of fair-value adjustments to acquired deferred revenue. That was a company estimate, not a reported final result. The company also projected annual growth in excess of 25% over the next few years; that was a forecast, not evidence of growth subsequently achieved. Thomson Reuters’ January 2, 2025 announcement contains the transaction terms and projections.
What does SafeSend do?
SafeSend serves tax and accounting professionals. Its software automates parts of the tax return process often described as the “last mile”: assembling and reviewing returns, collecting taxpayer e-signatures, and delivering completed returns to clients. It is not a consumer service for preparing an individual’s taxes.
At announcement, Thomson Reuters described SafeSend as a U.S.-based, cloud-native software provider founded in 2008. The company said SafeSend served firms of different sizes, including 70% of the U.S. top 500 accounting firms, and had 235 employees. Those adoption and staffing figures describe the business in January 2025; they should not be read as current counts. The acquisition release is the source for those figures.
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What is SafeSend One?
SafeSend One is the vendor’s product suite for tax-firm workflows. Its product page lists engagement letters, file transfers, organizers, e-signatures, return assembly, and delivery. Thomson Reuters’ page also lists direct integration from UltraTax CS and GoSystem Tax RS. These are vendor-described capabilities, and product features or supported connections may change; consult the SafeSend One product page for current details.
How does the acquisition fit Thomson Reuters?
Thomson Reuters reported SafeSend in its Tax & Accounting Professionals segment in its first-quarter 2025 results. The company said it intended to continue offering SafeSend as a market solution and to support interoperability with multiple vendors. That stated intent means the acquisition was not announced as a plan to make SafeSend exclusive to Thomson Reuters tax software; it does not establish that every planned connection or product change has since been completed. The first-quarter 2025 results identify the reporting segment.
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In June 2025, Thomson Reuters described SafeSend alongside its SurePrep products as extending workflow coverage from document gathering through client delivery. This is the company’s portfolio framing, not an independent head-to-head assessment of tax software. Its article also included vendor-reported timing and turnaround claims; those figures should not be treated as results established for all firms or customers. The June 2025 Thomson Reuters Institute article explains that positioning.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the deal means for taxpayers and accounting firms
The acquisition concerns professional workflow software, so its most direct relevance is to accounting firms that handle client tax returns. For taxpayers, the software’s described role is downstream of tax preparation: it can support steps such as signing and receiving a completed return. The announcement alone does not show that every firm uses SafeSend, that individual tax-preparation options changed, or that customers will see a particular price or service change.
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Thomson Reuters’ later reporting continued to identify SafeSend as an acquired business, but the cited company materials do not establish current customer counts, current revenue, or the completion status of every planned integration. Thomson Reuters investor filings include subsequent company reporting.
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