Vertex completes acquisition of ecosio

Vertex announced that it has completed the acquisition of ecosio, a leading B2B integration provider specializing in electronic data interchange and e-invoicing, as of August 30, 2024. The acquisition includes an upfront cash payment of $69 million, as well as a targeted earn-out of $76 million in cash and $35 million of Vertex shares. The initial purchase price of $69 million was funded by Vertex with cash on hand and represents a five times revenue multiple based on ecosio’s current revenue run rate. If ecosio achieves all financial targets and earn-outs over the coming three years, the terminal multiple will also be approximately five times revenue.