Thomson Reuters buys Pagero in $800 million deal

Thomson Reuters buys Pagero in $800 million deal

Thomson Reuters has successfully acquired Pagero, a Swedish e-invoicing and tax solutions company, for approximately $800 million.

The content and tech giant offered to buy Pagero for $627 million at the end of last year, topping an earlier offer from US tax technology firm Vertex.

The offer was a premium of 11% to Pagero’s stock’s close on the day before the announcement and higher than Vertex’s offer of 36 crowns per share. Pagero’s board switched its recommendation from Vertex’s offer to the Thomson Reuters offer, marking a significant win for the global content and technology company.

This acquisition is the sixth deal closed by Thomson Reuters since the start of 2023, with a total acquisition value of approximately $2.1 billion. This strategic move contributes to a stronger, strategically aligned portfolio with exciting growth prospects for the company.

Implications for the Accounting Industry

Pagero’s services involve digitizing and automating accounts processes. Its e-invoicing compliance capabilities will expand Thomson Reuters’ indirect tax offerings, providing a significant boost to the company’s position in the accounting industry.

Pagero’s Smart Business Network connects customers to suppliers, customers, and authorities, regardless of the system they use. This network enables an automated, secure, and compliant exchange of invoices and other documents that seamlessly integrates with customers’ ERP systems.

With over 80 countries planning or implementing e-invoicing regulations, the acquisition of Pagero is set to accelerate Thomson Reuters’ vision for a globally connected suite of e-invoicing capabilities. The network is compliant with the mandates in over 75 of these countries, presenting a significant opportunity for growth.

Looking Ahead

Thomson Reuters’ acquisition of Pagero builds on the successful strategic partnership between the two companies. The strategic fit of Pagero’s e-invoicing solutions with the Thomson Reuters ONESOURCE suite will bring meaningful benefits to customers, including enhanced compliance, end-to-end workflow automation, and global scale through a single trusted vendor.

Thomson Reuters sees further opportunities to leverage Pagero’s brand and advanced network to deliver additional compliance offerings across various parts of its portfolio, including Global Trade Management, Supply Chain, and Vendor Risk.

 

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