Thomson Reuters recently acquired generative AI startup Materia. Thomson Reuters is a globally-recognized name delivering tech solutions across areas ranging from legal and accounting to multi-media news coverage, and this acquisition is expected to help advance the company’s AI-powered product portfolio.
Materia’s platform connects users with an AI assistant designed to support research and workflow efficiency for tax, audit and accounting operations. Thomson Reuters Ventures, the company’s venture capital arm, was an early investor in Materia, helping to bolster Thomson Reuters’ confidence in the value of Materia’s offerings.
“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. 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,” Thomson Reuters’ chief product officer David Wong said in a news release.
