Avalara, the market leading provider of sales tax and compliance automation services in the Cloud, announced today it has acquired Tax Technology Services (TTS), one of the nation's leading providers of Cloud-hosted sales tax exemption certificate management solutions. Avalara already has amassed more certificate management customers than anyone in the industry, and this acquisition extends the company's position as the clear frontrunner in this arena. The purchase is the company's latest move to provide industry-leading solutions across its entire service-based compliance platform.
Founded in 2002, TTS is the developer of CertCapture, which acquires, maintains, and retains exemption and resale certificates, use-tax certificates, W-9s, excise tax, and other time-sensitive documents. With databases that scale into the millions, CertCapture integrates with virtually any enterprise resource planning (ERP), tax decision software, or custom-developed business system to provide customer exemption status in real time.
The CertCapture technology and customer base will augment Avalara's own offering. It is the most comprehensive solution available for certificate management and is widely used by businesses of every size, from Fortune 500 enterprises and multilevel corporations to small and midsize companies throughout the United States.
"Our aim is to be the clear leader in every market we enter," said Avalara CEO Scott McFarlane. "We already had a preeminent position in certificate management, taking on more new customers every year than the rest of the market combined. The addition of TTS, with its excellent technology, strong customer base, and leading experts in the industry extends our lead and solidifies our position."
Avalara's purchase of TTS comes on the heels of recent acquisitions designed to accelerate the company's drive to become the undisputed leader in sales tax content. In January, Avalara purchased UPC Matrix Master, the world's largest product taxability database, as well as tens of thousands of fully researched and maintained product tax codes from leading industry partners.
"Avalara is building an amazing set of Cloud solutions that serve the compliance needs of a broad band of America's commercial enterprise," said Silvia Aguirre, TTS principal. "We are thrilled to join them and believe our technologies and expertise are a perfect fit. We're set to dominate this arena in the same way Avalara already leads the sales and use tax market."
Pat Falle, Avalara's SVP of sales, agrees. "Avalara pioneered the service-based platform for sales tax automation, and we've spent the last eight years perfecting the fastest, easiest, most accurate and affordable way to manage indirect taxes," said Falle. "Avalara is establishing a new standard for exemption certificate management, while raising the bar for the entire compliance and automation industry in the coming years."
As a result of this acquisition, all twenty-five former TTS employees will join Avalara's team and will continue to work from offices in Raleigh, North Carolina.