Vertex Acquires Edge Computing Business Tellutax to Increase its Worldwide Leadership in Tax Know-how Nasdaq:VERX

KING OF PRUSSIA, Pa., Jan. 25, 2021 (Globe NEWSWIRE) — Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a primary supplier of tax technologies and services, announced that it has obtained Tellutax, a Portland-primarily based edge computing technological know-how startup. Financial phrases of the transaction were being not disclosed.

Tellutax types edge-based mostly technological innovation utilizing a container architecture, which permits clients to deliver tax remedies seamlessly at the point of need to have with increased scalability and simplified management.

“We believe that Tellutax edge engineering will prolong our management in the company market place and accelerate our ecosystem growth into subsequent era payment and IoT platforms,” said Vertex president and CEO David DeStefano. “This acquisition furthers our technological know-how roadmap and hybrid cloud approach, enabling us to serve prospects in an increasingly hyper-related surroundings.”

Tellutax was launched in 2018 by two achieved executives in tax automation computer software. Tellutax CEO Eric Ruud was formerly a handling director at Thomson Reuters, whilst Tellutax Chief Technologies Officer (CTO) Eric Christian co-founded Sabrix and led the structure and improvement of its indirect tax software package platform. Sabrix was obtained by Thomson Reuters in 2009.

“Vertex is a world-wide leader in oblique tax automation and has a confirmed observe-record throughout numerous generations of engineering,” commented Christian. “We think edge computing will be the upcoming technology of know-how in our field and we are thrilled to support Vertex speed up this transformation.”

Tellutax edge technologies enables providers in all industries to reward from new amounts of effectiveness and scalability by allowing for large amounts of transaction data to be processed in which it is essential. The know-how allows the optimization of tax articles by limiting only details required for precise locations, eventually accelerating tax resolve and lessening the footprint of the edge services.

“Both Ruud and Christian possess a deep know-how of tax technologies and a track file of innovation. We are fired up to increase the functionality of edge computing technological know-how that Tellutax formulated specifically for tax into our portfolio of methods,” included DeStefano.

About Vertex

Vertex, Inc. is a top world-wide provider of oblique tax computer software and solutions. The company’s mission is to deliver the most reliable tax technologies enabling world-wide enterprises to transact, comply and expand with assurance. Vertex gives cloud-based and on-premise alternatives that can be customized to unique industries for key lines of oblique tax, such as profits and buyer use, benefit extra and payroll. Headquartered in North The united states, and with offices in South The united states and Europe, Vertex employs above 1,200 professionals and serves firms throughout the world.

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Supply: Vertex, Inc.

Company contact:                        
Tricia Schafer-Petrecz
Vertex, Inc.
[email protected]

Trader Relations speak to:
Ankit Hira or Ed Yuen
Solebury Trout for Vertex, Inc.
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