Thomson Reuters (TSX, NYSE: TRI) has closed its acquisition of Confirmation, a Nashville, Tennessee-based provider of secure audit confirmation services.
Terms weren’t released for the deal, which was announced last month.
Founded in 2000, Confirmation provides digital confirmation services to more than 16,000 audit firms, 4,000 banks and departments, and 5,000 law firms in 170 countries.
Thomson Reuters, a Toronto-based provider of business information services, said the acquisition strengthens its offering to the tax, accounting and audit industry.
Confirmation was backed by U.S. mid-market private equity firm Great Hill Partners. Great Hill invested US$60 million in the business in 2016.
Thomson Reuters Closes Acquisition of Confirmation
DALLAS, July 22, 2019 /CNW/ — Thomson Reuters (TSX/NYSE: TRI) today announced that it has closed the acquisition of Confirmation, a leading provider of secure audit confirmation services. Thomson Reuters previously announced on June 21 that it had signed a definitive agreement to acquire Confirmation, with completion of the acquisition subject to specified regulatory approvals and closing conditions. Financial terms of the transaction were not disclosed.
Confirmation, which provides digital confirmation services to more than 16,000 audit firms, 4,000 banks and departments and 5,000 law firms across 170 countries, is now part of the Tax & Accounting Professionals segment of Thomson Reuters.
Charlotte Rushton, president, Tax & Accounting Professionals, Thomson Reuters, said, “With the acquisition of Confirmation, we continue to fortify Thomson Reuters leadership in the tax, accounting and audit industry. The integration of Confirmation will enhance the capabilities of our Cloud Audit Suite, the most comprehensive cloud solution on the market which delivers integrated know-how and complete workflow management for audit professionals.”
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