Mooreland Partners Advises Taxware in its Merger with Convey Compliance Systems
Wilmington, MA / Minnetonka, MN — July 10, 2014 — Mooreland Partners is pleased to announce that it acted as financial advisor to Taxware, LLC, (“Taxware”) on its merger with Convey Compliance Systems, Inc. (“Convey”).
Taxware, a global provider of sales, use and value added tax determination software and compliance solutions, based in Willington, MA, has merged with Convey, the #1 private third-party filer of 1099 forms in the United States.
Founded in 1986 and based in Minnesota, Convey provides the most flexible, trusted, cloud-based tax information reporting solutions. 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, including 8 of the top 20 companies, 13 of the top 20 commercial banks, and 7 of the top 20 health and life insurance companies. The combination of the two companies creates a global tax compliance and reporting company, with a comprehensive portfolio of products and services designed to simplify tax compliance, provide greater visibility and control, and mitigate risk. The combined companies will streamline operations and reduce compliance risk through robust regulatory and tax law expertise combined with best-in-class, cloud-based technology and services that automate and simplify the tax compliance and reporting process.
Taxware is a leading provider of sales, use and value added tax calculation and compliance software as well as compliance outsourcing solutions to more than 1,200 customers. With a comprehensive repository of more than 210 million tax rules, Taxware tracks and analyzes tax law and forms changes in approximately 13,000 state and local jurisdictions in the U.S. and nearly 200 countries around the world. Taxware is owned by Vista Equity Partners, a leading private equity firm with approximately $11.5 billion in committed capital that invests in dynamic, successful technology-based organizations.
The merger of Taxware and Convey marks the 14th transaction advised by Mooreland since the beginning of 2014, and further strengthens Mooreland’s position as a global M&A advisor to Enterprise Software companies.