Kerry tech start up sells for $200M

U.S. tax company Vertex bought Irishfin tech start up Taxamo in a $200m (€165m) all cash deal. Taxamo provides software used by companies in the online services sector to ensure their tax, including VAT on online sales, is compliant including when trading services across borders by using sophisticated location data. 

Vertex CEO David DeStefano said Taxamo’s cloud-based solutions are “purpose-built for today’s global, e-commerce businesses that need to automate compliance and commerce across the entire value chain of cross-border transactions from merchant to seller to payer and revenue authority."

Taxamo was founded in 2010 by John McCarthy, whose family own the huge Fexco business also run from Killorglin. Taxamo is one of a number of start-up companies operating from Killorglin’s RDI Hub, it also has offices in Dublin and San Francisco. Vertex is a global provider of indirect tax software. Taxamo founder and CEO John McCarthy will join Vertex in a senior leadership role after the deal.