Thomson Reuters (TSX/NYSE: TRI), a Toronto, Canada-based global content and technology company, acquired Materia, a US-based startup that specializes in the development of an agentic AI assistant for the tax, audit and accounting profession.
The amount of the deal was not disclosed.
This transaction, which is complementary to its AI roadmap, accelerates Thomson Reuters’ vision for the provision of generative AI tools to the professions it serves.
Founded in 2022 and led by Kevin Merlini, CEO, Materia has developed an agentic AI assistant that automates and augments research and workflows for tax, audit and accounting use cases. It is built on a proprietary library of authoritative accounting content, integrated with firm knowledge, and key industry software. The platform offers a suite of pre-built capabilities to improve efficiency and quality for all levels of accounting staff across a variety of workflows while keeping security and accuracy central to its platform.
Thomson Reuters Ventures, an early investor in Materia, led the effort to launch a proof-of-concept initiative that allowed select Checkpoint Edge users to engage with certain Checkpoint content through Materia’s AI assistant.
FinSMEs
22/10/2024