Thomson Reuters Acquires Materia - a specialist in agentic AI for the tax, audit and accounting profession
Thomson Reuters (TSX/NYSE: TRI) has acquired Materia, a US-based startup specializing in agentic AI for the tax, audit, and accounting profession. This acquisition aligns with Thomson Reuters' AI roadmap and accelerates its vision to provide generative AI tools to professionals. Materia's AI assistant automates research and workflows, enhancing efficiency and value for accountants.
David Wong, Chief Product Officer at Thomson Reuters, emphasized the goal of providing each professional with a Gen AI assistant. The integration of Materia is expected to transform work and unify customer experience across Thomson Reuters' tax, audit, and accounting portfolio. Kevin Merlini, CEO of Materia, highlighted the potential to eliminate tedious tasks and increase focus on higher-value advisory work.
Thomson Reuters Ventures, an early investor in Materia, led a successful proof-of-concept initiative with select Checkpoint Edge users, demonstrating the potential value of combining Materia's AI capabilities with Thomson Reuters' content and solutions.
Thomson Reuters (TSX/NYSE: TRI) ha acquisito Materia, una startup statunitense specializzata in AI agentica per le professioni fiscali, di revisione e contabilità. Questa acquisizione è in linea con la roadmap AI di Thomson Reuters e accelera la sua visione di fornire strumenti di AI generativa ai professionisti. L'assistente AI di Materia automatizza la ricerca e i flussi di lavoro, migliorando l'efficienza e il valore per i contabili.
David Wong, Chief Product Officer di Thomson Reuters, ha sottolineato l'obiettivo di fornire a ciascun professionista un assistente di Gen AI. L'integrazione di Materia dovrebbe trasformare il lavoro e unificare l'esperienza del cliente nell'intero portafoglio fiscale, di revisione e contabilità di Thomson Reuters. Kevin Merlini, CEO di Materia, ha evidenziato il potenziale per eliminare compiti noiosi e aumentare la concentrazione su lavori di consulenza di maggior valore.
Thomson Reuters Ventures, un investitore precoce in Materia, ha guidato un'iniziativa di proof-of-concept di successo con alcuni utenti di Checkpoint Edge, dimostrando il valore potenziale della combinazione delle capacità AI di Materia con i contenuti e le soluzioni di Thomson Reuters.
Thomson Reuters (TSX/NYSE: TRI) ha adquirido Materia, una startup estadounidense especializada en AI agentiva para las profesiones de impuestos, auditoría y contabilidad. Esta adquisición se alinea con el plan de inteligencia artificial de Thomson Reuters y acelera su visión de proporcionar herramientas de AI generativa para los profesionales. El asistente AI de Materia automatiza la investigación y los flujos de trabajo, mejorando la eficiencia y el valor para los contables.
David Wong, Director de Productos de Thomson Reuters, enfatizó el objetivo de proporcionar a cada profesional un asistente de Gen AI. Se espera que la integración de Materia transforme el trabajo y unifique la experiencia del cliente en todo el portafolio de impuestos, auditoría y contabilidad de Thomson Reuters. Kevin Merlini, CEO de Materia, destacó el potencial de eliminar tareas tediosas y aumentar el enfoque en trabajos de asesoría de mayor valor.
Thomson Reuters Ventures, un inversor tempranero en Materia, lideró una exitosa iniciativa de prueba de concepto con selectos usuarios de Checkpoint Edge, demostrando el valor potencial de combinar las capacidades de IA de Materia con el contenido y las soluciones de Thomson Reuters.
Thomson Reuters (TSX/NYSE: TRI)는 Materia를 인수했습니다. 이 미국 기반 스타트업은 세무, 감사 및 회계 직업을 위한 에이전틱 AI를 전문으로 합니다. 이 인수는 Thomson Reuters의 AI 로드맵과 일치하며, 전문가들에게 생성적 AI 도구를 제공하겠다는 비전을 가속화합니다. Materia의 AI 도우미는 연구 및 작업 흐름을 자동화하여 회계사들에게 효율성과 가치를 향상시킵니다.
Thomson Reuters의 Chief Product Officer인 David Wong은 각 전문가에게 Gen AI 도우미를 제공하는 목표를 강조했습니다. Materia의 통합은 업무를 변화시키고 고객 경험을 통합할 것으로 예상됩니다. Kevin Merlini, Materia의 CEO는 지루한 작업을 없애고 더 가치 있는 자문 작업에 집중할 수 있는 잠재력을 강조했습니다.
Thomson Reuters Ventures는 Materia의 초기 투자자로, 특정 Checkpoint Edge 사용자와 함께 성공적인 개념 증명 이니셔티브를 주도하여 Materia의 AI 능력과 Thomson Reuters의 콘텐츠 및 솔루션을 결합할 잠재적인 가치를 시연했습니다.
Thomson Reuters (TSX/NYSE: TRI) a acquis Materia, une startup américaine spécialisée dans l'IA agentive pour les professions fiscales, d'audit et de comptabilité. Cette acquisition est en adéquation avec la feuille de route AI de Thomson Reuters et accélère sa vision de fournir des outils d'IA générative aux professionnels. L'assistant AI de Materia automatise la recherche et les flux de travail, améliorant ainsi l'efficacité et la valeur pour les comptables.
David Wong, Chief Product Officer de Thomson Reuters, a souligné l'objectif de fournir à chaque professionnel un assistant Gen AI. L'intégration de Materia devrait transformer le travail et unifier l'expérience client au sein du portefeuille fiscal, d'audit et de comptabilité de Thomson Reuters. Kevin Merlini, PDG de Materia, a mis en avant le potentiel d'éliminer les tâches ennuyeuses et d'accroître l'accent sur des travaux de conseil à plus forte valeur ajoutée.
Thomson Reuters Ventures, un investisseur précoce dans Materia, a dirigé une initiative réussie de preuve de concept avec des utilisateurs sélectionnés de Checkpoint Edge, démontrant la valeur potentielle de la combinaison des capacités IA de Materia avec le contenu et les solutions de Thomson Reuters.
Thomson Reuters (TSX/NYSE: TRI) hat Materia übernommen, ein in den USA ansässiges Startup, das sich auf agentische KI für die Steuer-, Prüfungs- und Buchhaltungsberufe spezialisiert hat. Diese Akquisition stimmt mit dem KI-Fahrplan von Thomson Reuters überein und beschleunigt die Vision, generative KI-Tools für Fachleute bereitzustellen. Der KI-Assistent von Materia automatisiert Recherchen und Arbeitsabläufe und steigert die Effizienz und den Wert für Buchhalter.
David Wong, Chief Product Officer von Thomson Reuters, betonte das Ziel, jedem Fachmann einen Gen AI Assistenten zur Verfügung zu stellen. Die Integration von Materia wird voraussichtlich die Arbeit transformieren und das Kundenerlebnis vereinheitlichen im gesamten Portfolio von Thomson Reuters für Steuern, Prüfungen und Buchhaltung. Kevin Merlini, CEO von Materia, hob das Potenzial hervor, mühsame Aufgaben zu beseitigen und sich stärker auf wertvollere Beratungsarbeiten zu konzentrieren.
Thomson Reuters Ventures, ein früher Investor in Materia, leitete eine erfolgreiche Machbarkeitsstudie mit ausgewählten Nutzern von Checkpoint Edge und zeigte den potenziellen Wert der Kombination von Materias KI-Fähigkeiten mit den Inhalten und Lösungen von Thomson Reuters auf.
- Acquisition of Materia accelerates Thomson Reuters' AI roadmap for tax, audit, and accounting professionals
- Integration expected to transform work processes and unify customer experience across Thomson Reuters' portfolio
- Potential for increased efficiency and value-added services for accounting professionals
- Successful proof-of-concept initiative demonstrates promising results for AI integration
- None.
Insights
Thomson Reuters' acquisition of Materia marks a significant leap in the company's AI strategy, particularly for its tax, audit and accounting services. This move aligns with the growing trend of integrating AI into professional services to enhance efficiency and value delivery.
The acquisition brings several key benefits:
- Accelerated AI roadmap: Thomson Reuters can now fast-track its vision of providing generative AI tools to professionals.
- Enhanced product offering: The integration of Materia's agentic AI assistant into Thomson Reuters' existing solutions could create a more unified and powerful suite of tools.
- Competitive advantage: By acquiring a purpose-built AI solution for tax, audit and accounting, Thomson Reuters positions itself ahead of competitors in this space.
- Potential revenue growth: If successfully implemented, this could lead to increased customer retention and possibly higher-priced offerings.
However, investors should consider potential challenges such as integration complexities and the need for significant investment in further development and deployment of the AI technology across Thomson Reuters' product lines.
This acquisition, while not disclosing financial terms, is strategically significant for Thomson Reuters. It represents a move to enhance its high-margin software and solutions segment, which is important for long-term growth and profitability.
Key financial implications include:
- Potential for increased revenue per user by offering advanced AI-powered solutions
- Possible improvement in operating margins as AI automation could reduce costs in content creation and customer support
- Short-term impact on cash reserves or debt levels, depending on the acquisition price
- Potential for increased R&D expenses as Thomson Reuters integrates and scales Materia's technology
With a market cap of
Founded in 2022, Materia is purpose built for tax, audit and accounting use cases. Its agentic AI assistant automates and augments research and workflows helping accountants to improve efficiency, effectiveness and the value they add to their clients.
"Our vision is to provide each professional we serve with a Gen AI assistant. Materia will further accelerate this vision for our tax, audit and accounting customers," said David Wong, Chief Product Officer, Thomson Reuters. "Once fully integrated, Materia will transform work and unify the entire customer experience with applications across our tax, audit, and accounting portfolio. We are excited by the potential of combining Materia with Thomson Reuters content, know-how, and solutions."
"Materia is defining the future for how agentic AI can enhance the accounting profession. Our vision is to eliminate low-value, tedious tasks, and in doing so, both increase quality, and free up accounting teams to focus on higher value advisory work for their clients, said Kevin Merlini, CEO of Materia. "We are excited to join Thomson Reuters on this exciting journey toward our shared vision. By combining, we will be able to move more quickly toward this objective and will unlock new opportunities to deliver highly-requested solutions for our customers."
Thomson Reuters Ventures, an early investor in Materia, led the effort to launch a proof-of-concept initiative that allowed select Checkpoint Edge users to engage with certain Checkpoint content through Materia's AI assistant. The promising initial results from this work provides confidence that Thomson Reuters and Materia together can best leverage generative AI to deliver value for Thomson Reuters tax, audit and accounting customers.
Thomson Reuters
Thomson Reuters (TSX/NYSE: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across tax, accounting, compliance, government, and media. Thomson Reuters' products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is the world's leading provider of trusted journalism and news. For more information, visit tr.com.
About Materia
Materia is the first comprehensive generative AI platform built specifically for public accounting firms. Materia is built on a proprietary library of authoritative accounting content, integrated with firm knowledge, and key industry software. The platform offers a suite of pre-built capabilities to improve efficiency and quality for all levels of accounting staff across a variety of workflows while keeping security and accuracy central to its platform.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS
Certain statements in this news release are forward-looking, including but not limited to the expected strategic benefits of the proposed transaction. The words "expect", "believe" and similar expressions identify forward-looking statements. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond our company's control and the effects of them can be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.
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SOURCE Thomson Reuters
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