Vertex Inc.
KING OF PRUSSIA, Pa., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a leading provider of tax technology and services, announced that it has acquired Tellutax, a Portland-based edge computing technology startup. Financial terms of the transaction were not disclosed.
Tellutax designs edge-based technology utilizing a container architecture, which enables customers to deliver tax solutions seamlessly at the point of need with increased scalability and simplified management.
"We believe Tellutax edge technology will extend our leadership in the enterprise market and accelerate our ecosystem expansion into next generation payment and IoT platforms," said Vertex president and CEO David DeStefano. "This acquisition furthers our technology roadmap and hybrid cloud strategy, enabling us to serve customers in an increasingly hyper-connected environment."
Tellutax was founded in 2018 by two accomplished executives in tax automation software. Tellutax CEO Eric Ruud was formerly a managing director at Thomson Reuters, while Tellutax Chief Technology Officer (CTO) Eric Christian co-founded Sabrix and led the design and development of its indirect tax software platform. Sabrix was acquired by Thomson Reuters in 2009.
"Vertex is a global leader in indirect tax automation and has a proven track-record across multiple generations of technology," commented Christian. "We believe edge computing will be the next generation of technology in our industry and we are thrilled to help Vertex accelerate this transformation."
Tellutax edge technology enables companies in all industries to benefit from new levels of performance and scalability by allowing large amounts of transaction data to be processed where it is needed. The technology enables the optimization of tax content by limiting only data needed for specific locations, ultimately accelerating tax determination and reducing the footprint of the edge service.
"Both Ruud and Christian possess a deep knowledge of tax technology and a track record of innovation. We are excited to add the functionality of edge computing technology that Tellutax developed specifically for tax into our portfolio of solutions," added DeStefano.
About Vertex
Vertex, Inc. is a leading global provider of indirect tax software and solutions. The company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,200 professionals and serves companies across the globe.
For more information, visit www.vertexinc.com or follow on Twitter and LinkedIn.
Source: Vertex, Inc.
Company contact:
Tricia Schafer-Petrecz
Vertex, Inc.
tricia.schafer-petrecz@vertexinc.com
484.595.6142
Investor Relations contact:
Ankit Hira or Ed Yuen
Solebury Trout for Vertex, Inc.
ir@vertexinc.com
610.312.2890
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About Globenewswire
Subscribe to releases from Globenewswire
Subscribe to all the latest releases from Globenewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Globenewswire
Tenaris SA19.9.2025 22:49:58 CEST | Press release
Tenaris’s controlling shareholder files an amendment to Schedule 13D in response to Tenaris’s ongoing share buyback program
Scandinavian Investment Group A/S19.9.2025 20:22:33 CEST | Pressemeddelelse
Resultat aktietilbagekøbsprogram 17-19 september 2025
Kensana Health Inc.19.9.2025 19:29:40 CEST | Press release
Kensana Health Lands $120 million from GEM, Fuelling a Global Plant Based Medicine Revolution
Digitalist Group Oyj19.9.2025 19:00:31 CEST | Press release
Digitalist Group structures its financing
Leading Edge Materials Corp.19.9.2025 18:00:00 CEST | Press release
LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JULY 31, 2025
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom