Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, announced that it has signed a definitive agreement to acquire Paisley, an industry-leading software provider of governance, risk, and compliance solutions, based in Plymouth, Minn.

Paisley’s Web-based enterprise and SaaS software products enable their customers to automate, manage, and control their internal processes associated with financial regulatory compliance across multiple geographies and jurisdictions in more than 40 countries around the globe.

Paisley solutions, which include Enterprise GRC and GRC on Demand, will be integrated with other leading Thomson Reuters software and digital solutions such as Checkpoint and ONESOURCE. The integration of these assets will give customers a broader set of integrated solutions to support global regulatory compliance from one established provider, Thomson Reuters.

The Paisley product line, which is used by many of the largest global accounting firms and 30 percent of Fortune 500 companies, will continue to provide an open architecture that supports all major vendors in the global financial compliance market. Paisley’s software is currently offered in eight languages.

The closing of the acquisition is subject to a number of customary conditions, including regulatory approvals. Upon closing, Paisley will become part of the Tax & Accounting business of Thomson Reuters.