We introduce the fastest known exact algorithm~for~the multiterminal cut problem with k terminals. In particular, we engineer existing as well as new data reduction rules. We use the rules within a branch-and-reduce framework and to boost the performance of an ILP formulation. Our algorithms achieve improvements in running time of up to multiple orders of magnitudes over the ILP formulation without data reductions, which has been the de facto standard used by practitioners. This allows us to solve instances to optimality that are significantly larger than was previously possible.