Thomson Reuters Corporation (NYSE / TSX: TRI) is a global content and technology company that recently announced the successful completion of its recommended public offer for Pagero Group AB (publ) (Nasdaq First North Growth Market Stockholm: PAGERO) for a purchase price of around USD 800 million / SEK 8.1 billion. This acquisition is the sixth deal that Thomson Reuters has closed since January 1, 2023, with a total acquisition value of approximately $2.1 billion. This acquisition has contributed 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 network provides a secure connection for customers to suppliers, customers, and authorities, regardless of the system they use. Pagero’s platform reaches 14 million companies, linking 90,000 customers for an automated, secure, and compliant exchange of invoices and other documents that seamlessly integrates with customer’s 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.”
Thomson Reuters recently acquired Pagero, a company that offers e-invoicing solutions, in order to accelerate their shared vision for a globally connected suite of e-invoicing capabilities. With over 80 countries, including 75 where the network is already compliant, implementing or planning e-invoicing regulations, the acquisition presents a significant opportunity for growth.
This acquisition builds on the strategic partnership between Thomson Reuters and Pagero, allowing for a smooth integration and enabling the former to better capitalize on the combined expertise and resources of both 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.
“We are very excited to become part of Thomson Reuters. The interest shown in Pagero is confirmation of both our market position and the great products and service we deliver to our customers and partners. Our joint forces and combined offering create unparallelled value in the market and I am looking forward to continuing our journey towards building the world’s largest business network for automated, secure and compliant business transactions. The industry landscape continues to develop at pace and together we are committed to helping our customers and partners make buying and selling easy across all corners of the world,” says Bengt Nilsson, CEO of Pagero.
Thomson Reuters is committed to ensuring continuity for customers, partners, and colleagues through the integration program and beyond as they continue to offer Pagero as a market solution. There are further opportunities to leverage Pagero’s brand and advanced network to deliver additional compliance offerings across various parts of Thomson Reuters’ portfolio, including Global Trade Management, Supply Chain, and Vendor Risk.
From now on, Pagero’s CEO Bengt Nilsson will report to Thomson Reuters’ CEO Steve Hasker and Pagero’s financial performance will be reported into Thomson Reuters Corporates segment. Pagero has shown a proven track record of double-digit revenue growth and is highly profitable in its scaled markets. Thomson Reuters sees a pathway to robust overall profitability in the next few years as Pagero’s investment markets scale up. For more information on Pagero’s 2023 year-end report, please click here.
