CCH (News - Alert), a Wolters Kluwer business, has acquired SpeedTax, a provider of innovative Software-as-a-Service (SaaS) sales and use tax solutions. SpeedTax serves small-to-medium sized enterprises (SMEs) in the corporate market and CPA firms that support SMEs' sales and use tax compliance processing.

With the acquisition of SpeedTax, CCH has further expanded in the field of SaaS (News - Alert) technology and premier rates and taxability content, supported by strong customer and professional services.

"The acquisition of SpeedTax is a great fit for small to medium enterprise corporations, combining the long-time benefits CCH has delivered in content, solution and service excellence with a proven SaaS solution," said CCH President & CEO Mike Sabbatis, in a press release. "Today, CCH brings the best of all worlds to the corporate market while continuing to expand our corporate solutions and delivery models for companies of all sizes."

According to the agreement between both the companies, CCH will offer SpeedTax products as a distinct product line within its suite of content and software offerings for professionals in corporations of all sizes. Moreover, CCH also plans to bring new levels of content, investment and support to the business, to meet an expanded range of customer needs and to serve them best.

CCH, a Wolters Kluwer business, is the leading global provider of tax, accounting and audit information, software and services. Recently, the company announced that Grant Thornton (News - Alert), the U.S. member firm of Grant Thornton International, one of the six global audit, tax and advisory organizations, has been named a Preferred Implementer of CCH Global Integrator, a web-based solution providing global data collection and consolidation, tax provisioning and tax reporting on a single platform. The agreement enables CCH to expand its presence to support corporations and offer custom implementation services provided by Grant Thornton professionals in the United States.

Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.