Thomson Reuters has signed an agreement to acquire Paisley, a software developer that specializes in governance, risk and compliance software, especially for Sarbanes-Oxley compliance.

Financial details of the acquisition were not disclosed. Paisley's software helps multinational corporations, accounting and consulting firms, and government agencies manage their financial controls, internal audit processes, and enterprise risk management. Based in Plymouth, Minn., Paisley has various offices around the world and employs approximately 230 people. Upon closing, Paisley will become part of the Tax & Accounting business of Thomson Reuters.

"A Paisley combination with Thomson Reuters is a real win for our customers," said Mark Schlageter, president of research and guidance for the Tax & Accounting business of Thomson Reuters.

Paisley's Web-based enterprise and software-as-a-service products enable customers to manage internal processes associated with financial regulatory compliance across multiple geographies. Paisley's products include Enterprise GRC and GRC on Demand. The Paisley products will be integrated with other Thomson Reuters software such as Checkpoint and OneSource.

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