Tech news: Avalara closes latest acquisition, and more

Avalara closes Inposia deal

Michael Nagle/Bloomberg

Avalara, provider of tax automation software, has closed the acquisition of Inposia Solutions, a German company that makes e-invoicing and digital tax-reporting solutions. Inposia also provides system and data integration to support digital transformation efforts and business compliance requirements. Terms of the deal were not disclosed.

Blue Dot secures $32 million funding round

Blue Dot, formerly known as VATBox, has closed a $32 million funding round to accelerate growth. The company makes an AI-driven, cloud-based tax compliance platform.

“SAP Concur chose Blue Dot as its exclusive integrated tax assurance solution to be deployed for their client portfolio,” said CEO Isaac Saft in a statement. "We’ve secured funding from top U.S. investors to drive the next phase of our growth strategy.”

Vertex intros Oracle ERP tool for global tax determination

Vertex, which provides tax technology solutions, has introduced the Vertex Indirect Tax Accelerator for Oracle Fusion Cloud Enterprise Resource Planning (ERP). The solution is hosted on Oracle Cloud Infrastructure to support tax management worldwide.

The Vertex Accelerator is built to streamline previously manual tasks and provide detailed adjustments to tax configurations and data to help businesses as they make acquisitions, introduce new products, and expand into new regions. The tool also provides granular transaction data for tax determinations for businesses calculating U.S. sales and use tax and value-added tax (VAT).

New cryptocurrency tool for tax professionals now available

Computis, a tax and accounting application programming interface specialist with a patent-pending tax engine designed for crypto exchanges, wallet providers and lending platforms, now integrates with Zabo Portfolio, a cryptocurrency dashboard, providing balance and transaction histories cryptocurrency exchanges and wallets. The data, once imported into the Computis Tax Engine, generates a report for CPAs of taxable crypto transactions for individual taxpayers.