Thomson Reuters buys Lead Edge Capital backed SafeSend for $600m

Thomson Reuters has acquired SafeSend, a portfolio company of Lead Edge Capital Partners, for $600 million.

Based in Ann Arbor, Michigan, SafeSend is a software company that provides several foundational technology solutions for the tax and accounting industry. Founded in 2008, SafeSend’s solutions are used by accounting companies of all sizes across the US, including 70 percent of the country’s top 500 businesses.

SafeSend is expected to generate around $60 million of revenue in 2025 before the impact of fair value adjustments to acquired deferred revenue and to grow in excess of 25 percent annually in the next few years, according to a release.

Lead Edge made a growth equity investment in SafeSend in 2021.
Toronto-based Thomson Reuters is a provider of business information services.

Lead Edge Capital is a growth equity firm with $5 billion in assets under management investing in software, internet and tech-enabled businesses. It is based in New York.