The two companies announced a merger July 1, saying they were combining to create a comprehensive portfolio of technology products and services that help organizations simplify compliance, gain greater visibility into their tax reporting, and mitigate risk.
Convey, based in Minnetonka, Minn., specializes in 1099 reporting solutions with its cloud-based software that serves nearly half of the Fortune 500. Taxware, from Wilmington, Mass., supplies solutions for sales tax, use tax, and value-added tax.
"Combining our expertise in cloud-based technology development with the best-in-class tax jurisdiction monitoring and content capabilities provided by Taxware results in a broad and unified solution for regulatory and compliance needs," Brian Provost, President and CEO of Convey, said in a press release announcing the merger.
Because the companies fundamentally solve the same problems, they're "extremely complimentary," says Andy Hovancik, CEO of Taxware and the combined companies.
Still, while they've joined forces, both companies will continue to work independently of each other. "We are not going to make the mistake of combining and diluting the domain expertise that each brings," says Hovancik.