CCH Acquires SpeedTax
Move Positions CCH As Only Provider of SaaS Solutions, Premier Tax Content and Services in Corporate Market
RIVERWOODS, ILL., July 26, 2011 – CCH, a Wolters Kluwer business today announced it has acquired SpeedTax, a provider of innovative Software-as-a-Service (SaaS) sales and use tax solutions. The acquisition continues CCH's expansion in the corporate market and positions CCH as the only provider to offer advanced SaaS technology and premier rates and taxability content, supported by strong customer and professional services. CCH is a leading global provider of tax, accounting and audit information, software and services (CCHGroup.com).
SpeedTax serves small-to-medium sized enterprises (SMEs) in the corporate market and CPA firms that support SMEs' sales and use tax compliance processing.
"The acquisition of SpeedTax is a great fit for small to medium enterprise corporations, combining the long-time benefits CCH has delivered in content, solution and service excellence with a proven SaaS solution," said CCH President & CEO Mike Sabbatis. "Today, CCH brings the best of all worlds to the corporate market while continuing to expand our corporate solutions and delivery models for companies of all sizes."
SpeedTax's easy-to-use SaaS sales and use tax solutions perform real-time, automated sales tax calculations, integrated with customers' financial or e-commerce systems. They also provide automatic returns preparation and filing, while enabling reporting, treasury management and audit defense with web-based compliance management and reporting tools.
CCH will continue serving SpeedTax customers with the solutions and services they value. SpeedTax products will be offered as a distinct product line within CCH's suite of content and software offerings for professionals in corporations of all sizes.
Like SpeedTax, CCH has a demonstrated commitment to innovation, quality and customer service. Going forward, CCH will bring new levels of content, investment and support to the business, to meet an expanded range of customer needs and to serve them best.
SpeedTax was founded in 2007 with headquarters in Laguna Hills, Calif. More information about SpeedTax is available at www.speedtax.com. Terms of the acquisition were not disclosed.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.