King of Prussia-based Vertex buys Irish company for $200M

  • May 26, 2021

Vertex has acquired Taxamo, a cloud-based provider of tax and payment automation for global e-commerce and marketplaces, for $200 million in cash.

Headquartered in Ireland, Taxamo's customers include digital service providers across the globe who use its platform to support indirect tax compliance with a core focus on online sales, payments and e-invoicing.

This is the second acquisition this year for Vertex. In January, it acquired Tellutax, a Portland-based edge computing technology startup.

In a statement, Vertex CEO David DeStefano said the purchase of Taxamo "accelerates our growth strategies across e-commerce platforms and marketplaces in the enterprise and mid-market in Europe and North America, and among our existing global customers.”

“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 platforms,” DeStefano added.

Taxamo founder and CEO John McCarthy joins Vertex in a senior leadership role overseeing the company’s global e-commerce and marketplace strategy.

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