News
Vertex Acquires Taxamo
May 2021 by Marc Jacob
Vertex, Inc. announced it has acquired Taxamo, a cloud-based pioneer in tax and payment automation for global e-commerce and marketplaces. Taxamo, headquartered in Ireland, counts many of the leading, high-growth digital service providers among its global customers who rely on its unified platform of integrated capabilities to support indirect tax compliance, with a core focus on online sales, payments, and e-invoicing.
Taxamo’s cloud-based solutions are purpose-built for today’s global, e-commerce businesses that need to automate compliance and commerce across the entire value chain of cross-border transactions from merchant to seller to payer and revenue authority. Taxamo delivers comprehensive end-to-end solutions for VAT and GST management - from registration to calculation, compliance, invoicing and payment – all on one platform.
Taxamo solutions are expected to be integrated into the Vertex cloud portfolio, bringing new capabilities and expanded digital content to Vertex’s large, global customer base. Taxamo founder and CEO John McCarthy joins Vertex in a senior leadership role overseeing the company’s global e-commerce and marketplace strategy.
Transaction Highlights
The purchase price for Taxamo was approximately $200 million in an all-cash transaction. The acquisition is a strategic opportunity that we believe will provide accretive revenue growth.
Financial Impact
Further details regarding the anticipated financial impact of the acquisition, will be provided on our first quarter 2021 financial results conference call today, May 13, 2021.
