Thomson Reuters, the financial information provider, says it has agreed to acquire Sabrix, a San Ramon, Calif.-based company that provides transaction tax solutions to corporations. Thomson did not disclose the terms of the transaction.
Thomson says that when the deal closes, which is expected to occur in December, the 160 employees of Sabrix will become part of Thomson’s tax and accounting department. In its statement, Thomson notes that Sabrix covers tax rates and rules for 170 countries and says the acquisition will help Thomson provide a comprehensive transaction tax solution for companies, especially multinational companies.