Thomson Reuters Corp. TRI-T says it has acquired Materia, a U.S.-based startup developing an artificial intelligence-powered assistant for the tax, audit and accounting profession.
Financial terms of the deal were not immediately available.
Thomson Reuters says the deal is part of its plan to provide AI tools to the professions it serves.
Materia was founded in 2022.
The company’s AI assistant helps accountants by automating and improving research and workflows.
Thomson Reuters Ventures was an early investor in Materia.
Woodbridge Co. Ltd., the Thomson family holding company and controlling shareholder of Thomson Reuters, also owns The Globe and Mail.