Vertex, Inc. (NASDAQ:VERX) was founded in 1978 and is headquartered in Pennsylvania, USA. It has 1,100 full-time employees. It is a software development and IT/business consulting company that provides comprehensive tax solutions to make global business full Trade, comply and grow with confidence.
Vertex, Inc. (VERX):
VERTEX Incorporated was established in 1978 by Ray Westphal. The three co-owners, Jeff Westphal, Stevie Westphal Thompson and Amanda Westphal Radcliffe, purchased shares in the company from their father in 2000. Vertex is one of the first companies to combine business consulting services with independent life annuity software. In addition, it also provides companies with direct process adjustments to achieve paperless and automatic variable annuity sales; starting from pre-sales activities, it has been Proceed to signing the contract.
For companies that need more effective technical solutions, Vertex provides a comprehensive set of software and consulting services for income tax and transaction tax, combining Vertex’s 30 years of tax and technical experience with a new tax consulting method. As a tax technology solution provider for global customers, Vertex provides solutions that include products and services to help companies simplify tax compliance processes. With Vertex, you will have a partner who can discover new strategic tax savings in every major business tax area, including revenue, sales, consumer use, value-added, communications and salary.
Companies with complex taxation operations rely on Vertex to automate their end-to-end indirect taxation process. Indirect tax is the largest corporate tax category, including business tax, seller use tax, consumer use tax and value-added tax. According to the 2019 OECD tax database, the total annual indirect tax revenue exceeds US$3.5 trillion, which is 2.5 times the corporate income tax. Vertex’s software, content, and services address the increasingly complex issues of global business and compliance by reducing wastage, improving transparency, and increasing confidence in indirect tax obligations.
Today, Vertex’s software is ubiquitous in customers’ business systems, touching almost every order item of every transaction that a company can execute. Vertex has more than 4,000 customers, including more than half of the Fortune 500 companies, and provides tax support to customers in more than 130 countries.
Vertex, Inc. (VERX) investment:
Vertex, Inc. (NASDAQ: VERX) was listed on NASDAQ in its IPO tax on 7/29/2020. The planned issue price is $14.00-$16.00, and the actual issue price is $19. It will issue 21.2 million shares and raise $402.8 million. Goldman Sachs / Morgan Stanley underwriting, BofA Securities/ Citigroup/ Jefferies/ JMP Securities/ Stifel/ William Blair/ CastleOak Securities.