Vista Equity Partners completes Taxware acquisition
Vista Equity Partners has completed its acquisition of the Taxware business from ADP in an agreement that was announced on 6 November 2012.
The company will continue to use the Taxware name.
"We are excited that we are closing this transaction with ADP and acquiring a leading company in a growing market," says Robert F Smith, Vista Equity Partners' chairman and chief executive. "Taxware provides us a great opportunity to combine Vista's proven operating philosophies, Taxware's great product offerings and a talented management team to deliver a great customer experience. We look forward to supporting the Taxware management team as they continue to grow the company and realise its full potential."
Taxware also announced the appointment of Andy Hovancik as the new chief executive. For more than 21 years, Hovancik has served a variety of software and technology companies in key leadership positions. He most recently served as the president and COO at Solarsoft Business Systems, a provider of software for manufacturers, distributors, and wholesale businesses globally.
"This is an exciting time to be joining Taxware. As tax complexities and regulations increase, our clients rely on our tax solutions now more than ever. We will continue to build on our reputation of accuracy, reliability and technical expertise to continue serving the needs of our clients," says Hovancik.
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