CMS advises ecosio GmbH on acquisition by Vertex, Inc

An interdisciplinary team of CMS experts has provided comprehensive legal advice to ecosio GmbH, a fast-growing B2B integration company based in Vienna, on its acquisition by Vertex, Inc. a global provider of tax technology software. Closing took place on 30 August 2024.

"We are very pleased to have supported ecosio and its shareholders in their exit to a NASDAQ-listed US investor after several financing rounds and to have contributed to a successful transaction with our experienced team of experts," said Clemens Grossmayer, partner at CMS and member of the Corporate Transactions team in Vienna.

ecosio GmbH, which specialises in electronic data interchange (EDI) and electronic invoicing, provides intelligent, cloud-based technologies to accelerate B2B business processes. By integrating with Vertex' industry-leading indirect tax solutions, companies can overcome the challenges of cross-border expansion and improve the efficiency of their compliance and reporting processes. The acquisition demonstrates the companies' shared vision of a single global platform for automating business transactions, managing indirect tax reporting and electronic invoicing compliance.

The acquisition includes an upfront cash payment of $69 million as well as a targeted earn-out of USD 76 million in cash and USD 35 million of Vertex shares, based on ecosio achieving certain financial performance targets over the next three years, subject to adjustments pursuant to the terms of the purchase agreement.

The interdisciplinary CMS team led by partner Clemens Grossmayer and attorney-at-law Christoph Birner (both Corporate/M&A) provided comprehensive legal advice to ecosio GmbH.