A Kerry based tech company has been bought by an American firm for around $200 million.
Taxamo, which has its headquarters in the RDI Hub in Killorglin, was acquired by Philadelphia based Vertex.
Taxamo is a cloud-based pioneer in tax and payment automation for global e-commerce and marketplaces.
It was founded a decade ago by John McCarthy, who is the current CEO and son of Fexco founder Brian McCarthy.
Vertex, a leading global provider of tax technology solutions, says the purchase price was around $200 million and it was an all-cash transaction.
Taxamo's headquarters will remain in Killorglin, but Mr McCarthy will join Vertex in a senior leadership role, overseeing the company's global e-commerce and marketplace strategy.
He says they're extremely proud of the company they’ve built over the past 10 years, and that he's excited to join such a recognized, trusted leader in tax technology.
David DeStefano, President, CEO and Chairperson of the Board at Vertex, says the acquisition supports and accelerates their growth strategies in Europe and North America, and opens up entirely new market opportunities.