Thomson Reuters picks up secure audit services provider Confirmation from Great Hill Partners

Great Hill Partners-backed secure audit services provider Confirmation has been bought by Thomson Reuters.

The company has spent the past 19 years aiming to provide digital confirmation services to more than audit firms, banks and departments and law firms across 170 countries.

Great Hill first backed the business in 2016, when it was known as Capital Confirmation, with a $60m minority investment.

Charlotte Rushton, president, Tax & Accounting Professionals at Thomson Reuters, said, “The audit industry is changing rapidly, with confirmations being a critical, yet previously challenging part of the process.

“New technologies and the widespread electronic storage of financial information are now making audit transformation possible.”

Great Hill hit a $1.5bn hard cap final close for its sixth flagship fund in January 2017, after just four months in the market.

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