VERX - Vertex Acquires Artificial Intelligence Tax Capabilities from Ryan LLC | Benzinga
KING OF PRUSSIA, Pa., June 12, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, announced today the acquisition of tax-specific AI capabilities from Ryan, LLC, an award-winning tax services and software firm, designed to more effectively manage the complexity of tax mapping. Financial terms of the transaction were not disclosed.
The categorization of products for taxability is a manual and time-consuming process that is critical for achieving enhanced tax accuracy, especially for high-volume businesses that must manage indirect tax compliance globally, at scale.
The acquisition will accelerate Vertex's AI innovation strategy to help global companies manage tax complexity with greater speed and scale.
"We have had a strong partnership with Ryan for years. Now we have an opportunity to advance the value of AI for tax teams by combining Ryan's extensive tax expertise with the strength of the Vertex technology platform," says Chirag Patel, Chief Strategy Officer of Vertex. "This acquisition demonstrates the power of our partner relationship and our commitment to providing comprehensive ...