Vertex Inc. completes acquisition of ecosio, a B2B integration provider specializing in electronic invoicing.
From GlobeNewswire: 2024-09-06 11:38:45
Vertex Inc. has completed the acquisition of ecosio, a leading B2B integration provider specializing in electronic data interchange and electronic invoicing. This acquisition includes an initial cash payment of $69 million, targeted earn-out payments totaling $111 million in cash and stock, and potential further earn-outs based on financial goals over the next three years. The integration of ecosio’s E-Invoicing features into Vertex’s tax technology platform aims to simplify tax compliance for international businesses. Vertex will provide more financial details when releasing third-quarter 2024 results in November.
The CEO of Vertex, David DeStefano, welcomed ecosio into the Vertex family, stating that electronic invoicing will revolutionize how companies handle tax compliance and reporting. The merger will help simplify tax regulation compliance, optimize transaction control requirements, and expand market opportunities. The acquisition aims to enhance Vertex’s comprehensive tax technology solution in response to the evolving regulatory landscape that global customers face. Christoph Ebm, Managing Director of ecosio, emphasized that the merger with Vertex was a natural progression for growth and development.
Vertex Inc. is a leading provider of indirect tax solutions worldwide, supporting companies in confidently transacting, complying with regulations, and growing. The company delivers specialized solutions for indirect taxation areas such as sales tax, value-added tax, and payroll tax. With headquarters in North America and operations in South America and Europe, Vertex employs over 1,400 professionals serving businesses globally. Find out more about Vertex’s E-Invoicing solution on their website or follow them on Twitter and LinkedIn.
All statements in this press release, regarding the benefits of ecosio’s acquisition, future financial and operational results, and business plans should be considered forward-looking statements. These statements are subject to factors that could significantly impact actual results compared to forecasts, including court actions, integration difficulties, distraction from management priorities due to the acquisition, market changes, and more. Vertex does not commit to updating forward-looking statements to reflect future events or circumstances. For further details, contact Vertex’s Investor Relations or Media Relations team.
Read more at GlobeNewswire: Vertex schließt Übernahme von ecosio ab