Taxware, provider of indirect tax software, managed services and regulatory content, is merging with Convey Compliance Systems, the private third-party filer of 1099 forms.
With the backing and of Vista Equity Partners, private equity investor in software and technology-enabled businesses, and approximately $11.5 billion in cumulative capital committed, the two companies will streamline operations and reduce compliance risk through their combined regulatory and tax law expertise and complementary cloud-based technology and services automating the tax compliance and reporting process.
“Convey fundamentally solves many of the same problems as Taxware,” stated Andy Hovancik, CEO of Taxware and the combined companies. “Our company is now capable of expertly monitoring extensive and complex regulatory environments, developing and dynamically updating tax content, integrating with disparate enterprise applications, efficiently translating and storing data in a single relevant repository for reporting and reconciliation, and streamlining all facets of compliance reporting.”
Founded in 1986, Convey processed 250 million information returns in the 2014 tax filing season and is the leading filer of 1099 forms in the United States, serving nearly half of the Fortune 500.
“Combining our expertise in cloud-based technology development with the best-in-class tax jurisdiction monitoring and content capabilities provided by Taxware results in a broad and unified solution for regulatory and compliance needs,” stated Brian Provost, president and CEO at Convey.