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The Deal: Thomson Reuters Buys Bregal Sagemount’s SurePrepNovember 11, 2022
Business information services specialist Thomson Reuters Corp. announced that it will purchase SurePrep LLC, an income tax automation software business backed by Bregal Sagemount, for US$500 million in cash. The net acquisition price of SurePrep comes out to US$440 million, considering the estimated tax benefit with a net present value of roughly US$60 million. Based in California, SurePrep “automates the collection of digital documents directly from clients and the processing of those documents, automatically extracting and populating key data into its tax compliance software to make certified public accountants more efficient.” O’Melveny & Myers LLP serves as legal advisor to SurePrep.
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