Tax software companies Convey Compliance Systems, Taxware, and VAT Resource have become Sovos Compliance. This is one of those deals brought about by private equity. The convergence of the businesses began in December 2012 when Vista Equity Partners purchased Taxware and brought in Andy Hovancik as CEO. Taxware purchased VAT Resource a year ago and the merged Convey and Taxware during the summer. The combination brings together business that offer 1099 reporting, sales and use tax and value-added tax determination and compliance.
Intuit reseller AQB has changed its name to Fourlane. The Austin, Texas, based company said it made the move to eliminate any brand confusion by removing the QB initials from its name. “While offering QuickBooks consulting is still a large part of our business, establishing our new, independent name allows us to better distinguish ourselves and our services," CEO Marjorie Adams said in a prepared statement.
Retail Pro International has entered a partnership with 24Seven Commerce, which offers ecommerce services to retailers. The alliance makes the Retail Pro system available to specialty retailers. Designed for brick-and-mortar operators, 24Seven's cloud products connect to the Retail Pro retail management system. The combination provides a platform for managing in-store and online operations, including integration between Retail Pro, eBay and Amazon.
The Advanced Computer Software Group, a holding company based in the United Kingdom, has gone private. The company was purchased for about $1.1 billion at the end of March by Vista Equity Partners, whose goal is to make Advanced a global player. Advanced owns several business software companies, most of which do not operate in the United States. These include four financial software lines: e5, eFinancials, OpenAccounts and Exchequer. It also has V-1, a company that markets Professional Services Automation software, and Advanced 365, whose cloud and hosting services has some U.S. presence.