Starting off 2021 with a bang, Avalara tucked one more acquisition under its belt with Inposia Solutions, a German software company focused on e-invoicing, digital tax reporting, and business and data integration to address real-time compliance requirements for companies worldwide.
Avalara signed the agreement to buy the company on Dec. 29, 2020. The transaction is expected to close in the first half of 2021.
This acquisition, the terms of which were not disclosed, follows that of TTR, Business Licenses, and Impendulo which gave Avalara an entry into the global insurance market. With Inposia, Avalara adds to its compliance automation offerings.
Inposia offers technology to integrate business processes and data directly with other B2B partners, directly with governments, and across the multiple digital business systems used by operations and finance teams.
“E-invoicing is becoming a mandatory global requirement for transactional tax compliance,” said Jayme Fishman, executive vice president of corporate development at Avalara, in a statement. “Inposia is an essential platform to connect sellers and suppliers, and businesses and governments. The trusted facilitation of data between these parties and across any business system is essential to success as governments move from the end of the transactional tax chain to the middle. We look forward to working with the Inposia team as the complexities of real-time compliance spread worldwide.”
“Real-time data management is more important than ever as businesses demand more visibility and accessibility to their invoicing records. The demands of digital transformation have accelerated this need — for businesses with each other, and from global governments,” added Muzaffer Havcarci, CEO of Inposia, also in a statement. “We look forward to working with Avalara and its customers to meet the demands of today’s digital invoicing requirements, as they spread across Europe and around the world.”
