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VERTEX ACQUIRES TAXAMO FOR $200M Featured

Indirect tax software vendor Vertex has acquired Taxamo, which makes cloud-based tax and payments applications for ecommerce and market place. The transaction was for about $200 million in cash.

This year is shaping up a busy one in the indirect tax space with TaxJar having purchased TaxJar for an undisclosed amount last month. Also last month, Avalara bought Davo Technologies, which provides sales tax software to small businesses and in a recent earnings webcast, Avalara CEO Scott McFarlane said his company will remain aggressive on the M&A stage. Taxamo, based in Ireland, offers end-to-end for VAT and GST management, with what was described as a core focus on online sales, payments and e-invoicing. “We also believe the addition of Taxamo opens up entirely new market opportunities as global marketplaces continue to expand, and tax complexity grows across the interconnected supply chain of logistics, shipping, customs and payment platform," Vertex CEO David DeStefano said in a prepared statement. Taxamo founder and CEO John McCarthy has moved into a senior leadership role overseeing the company’s global e-commerce and marketplace strategy. Vertex has also expanded its integrations this year with a link to BigCommerce Apps Marketplace and with Point of Rental Software and the introduction Vertex Indirect Tax Chain Flow Accelerator for SAP ERP and an indirect tax accelerator for Oracle Fusion ERP. 

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