- SafeSend now owned by Thomson PakGazette after $600 million deal
- 70% of the 500 largest companies in the United States use the services.
- An annual growth of 25% is expected “in the coming years”
Thomson PakGazette has spent $600 million on a company specializing in tax automation software.
The company confirmed that it had acquired cPaperless LLC, doing business as SafeSend, as it hopes to make tax preparer and taxpayer workflows more efficient for U.S. customers.
Headquartered in Michigan with a staff of 235, SafeSend was founded in 2008. In its announcement of the acquisition, Thomson PakGazette revealed that 70% of the 500 largest companies in the United States use the company’s solutions.
Thomson PakGazette acquires cPaperless/SafeSend
Tax return ‘last mile’ processes such as assembly, review, electronic taxpayer signature and delivery are the key focus of SafeSend software, which helps improve the efficiency of the painful process with an injection of automation.
“By integrating SafeSend’s innovative technology with our existing solutions, we are simplifying tax preparation workflows and meeting the dynamic demands of the businesses we serve to help them thrive in an increasingly complex tax landscape,” he said. Elizabeth Beastrom, President of Tax, Audit and Accounting Professionals at Thomson PakGazette.
SafeSend co-founder Steve Dusablon added: “Being part of Thomson PakGazette will allow us to accelerate product development efforts and realize our shared vision of an end-to-end tax workflow solution.”
Under its new leadership, Thomson PakGazette predicts 25% annual growth for SafeSend “over the next few years.”
SafeSend co-founder Andrew Hatfield added: “We are both excited to continue our journey with Thomson PakGazette.” His comment indicates that the company could continue to operate normally under its new ownership of Thomson PakGazette.
A Thomson PakGazette spokesman said TechRadar Pro in an email: “I can confirm that Thomson PakGazette is pleased to welcome all SafeSend employees to the company as part of the acquisition.”
