Thomson Reuters Successful Acquisition of Pagero Paves the Way for Significant Growth Opportunities

Accelerating the companies' joint vision for a connected suite of e-invoicing and indirect tax solutions for customers across the globe.

TORONTO, ON / ACCESSWIRE / March 5, 2024 / Thomson Reuters Corporation (NYSE:TRI)(TSX:TRI) ("Thomson Reuters"), a global content and technology company, previously announced the successful outcome of its recommended public offer for Pagero Group AB (publ) (Nasdaq First North Growth Market Stockholm:PAGERO) ("Pagero" or the "Company"), for a purchase price of approx. USD 800 million / SEK 8.1 billion.

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Thomson Reuters

The acquisition marks the sixth deal closed by Thomson Reuters since January 1, 2023, with a total acquisition value of approximately $2.1 billion, contributing to a stronger, strategically aligned portfolio with exciting growth prospects.

Pagero is a global leader in e-invoicing and indirect tax solutions, which it delivers through its Smart Business Network. The secure network connects customers to suppliers, customers and authorities regardless of the system they use - linking 90,000 customers to a platform reaching 14 million companies. This enables an automated, secure, and compliant exchange of invoices and other documents that seamlessly integrates with customers' ERP systems.

"Our successful commercial partnership with Pagero is a testament to our strategic and cultural fit, and we are thrilled to now be able to welcome the talented Pagero team to Thomson Reuters. We are excited by the unique potential of Pagero's Smart Business Network and fully recognize the significant value this open ecosystem provides to customers, suppliers and authorities," said Steve Hasker, President and CEO of Thomson Reuters. "We will continue to invest in Pagero as we work through a thoughtful and gradual integration, bringing benefits to our shared customers, partners and colleagues."

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

Thomson Reuters' acquisition of Pagero builds on the successful strategic partnership between the two companies. Paving the way for a smooth integration, this evolution allows Thomson Reuters to efficiently capitalize on the combined expertise and resources while recognizing Pagero's unique strengths and talented team. The strategic fit of Pagero's e-invoicing solutions with the Thomson Reuters ONESOURCE suite will bring meaningful customers benefits, including enhanced compliance, end to end workflow automation and global scale through a single trusted vendor.