Thomson Reuters Corporation Acquires Safe Sign Technologies to Accelerate its AI Strategy

TORONTO, Aug. 21, 2024 – Thomson Reuters (TSX/NYSE: TRI), a global content and technology company, today announced it has acquired Safe Sign Technologies, a UK-based startup that is developing legal-specific large language models (LLMs).

“This acquisition marks another milestone on our journey to combine our trusted content and world-class domain experts with our cutting-edge technology. Based on our internal assessment, we believe Safe Sign’s models have demonstrated industry-leading performance across a number of domain-specific evaluations. We believe that coupling them with our industry-leading content and expertise will help us deliver greater quality and performance from our AI solutions,” said Joel Hron, Chief Technology Officer, Thomson Reuters. “We expect this acquisition to help accelerate our ability to provide our customers with a professional grade AI experience through the CoCounsel AI Assistant – the company's genAI assistant – that enables professionals across industries to accelerate and streamline their workflows.”

“We believe Safe Sign Technologies has been at the cutting edge of legal AI research since 2022, achieving significant progress in its goal to create the world’s best proprietary legal LLM. Safe Sign’s world-leading team—drawn from Cambridge, DeepMind, Harvard and MIT—is pleased to join with Thomson Reuters to become a major scientific and industrial disrupter in legal AI,” stated the Safe Sign Technologies leadership team, Alexander Kardos-Nyheim and Dr. Jonathan Schwarz.

Alexander Kardos-Nyheim, founder and CEO, founded Safe Sign Technologies in February 2022. He was joined by leading Cambridge Law and AI professors and researchers. Kardos-Nyheim’s team expanded, most notably with the arrival in late 2023 of Dr. Jonathan R. Schwarz, who became the company’s co-founder and chief scientist. Schwarz brought with him world-leading AI expertise, drove the company’s LLM strategy and enabled the company to achieve world-class legal LLM performance. The Safe Sign Technologies team will report directly to Hron and will be working closely with the Thomson Reuters Labs team. To learn more about Safe Sign Technologies and its team, visit the Safe Sign Technologies website.

Thomson Reuters

Thomson Reuters (TSX/NYSE: TRI) (“TR”) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news. For more information, visit tr.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS

Certain statements in this news release are forward-looking, including but not limited to statements regarding the expected benefit of the transaction to Thomson Reuters’ customers and professionals generally. The word “believe”, “expect” and similar expressions identify forward-looking statements. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond our company’s control and the effects of them can be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.

Media Contacts

Dave Moran
Corparate Affairs
+1.647.285.3815
dave.moran@thomsonreuters.com

Gary E. Bisbee, CFA
Head of Investor Relations 
+1.646.540.3249
gary.bisbee@thomsonreuters.com