Thomson Reuters Completes Acquisition of Sabrix, Inc.
(NYSE: TRI;TSX: TRI) -- Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that its Tax & Accounting business has completed the acquisition of Sabrix, Inc., a leading global provider of transaction tax management software applications and services.
Sabrix offers both the Sabrix Application Suite used by large enterprises to, among other things, determine, calculate and record sales tax, use tax, VAT, excise tax, and industry-specific taxes and fees, and the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service. Over time Sabrix products and solutions will be fully integrated with other leading Thomson Reuters software and services on ONESOURCE, a web-based corporate tax portal, to provide a full array of integrated transaction tax capabilities to customers.
All 160 Sabrix employees will transfer into Tax & Accounting and the business will continue to be based in San Ramon, CA.
The terms of the transaction were not disclosed.
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The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Tax & Accounting includes the Research & Guidance, Professional Software & Services, and Corporate Software & Services business groups.