Start-ups rarely make it big, so we are thrilled to announce that business communication company ecosio has become an international success story.

Have you ever wondered how businesses communicate with each other in real time when it comes to financial transactions? Wonder no more! Start-up company ecosio works on increasing supply chain efficiency through automated business to business communication, specializing in electronic data interchange (EDI) and electronic invoicing (e-invoicing). EDI aims to automate manual processes in business communication, e.g., communication with customers, suppliers or authorities.

ecosio had its start as a spin-out company of TU Wien Informatics based project ERPEL (E-business Registry Permitting Enterprise Liaisons) *, which ran from 2010-2012. ERPEL’s focus was creating a software-as-a-service solution enabling real-time business transactions between different Enterprise Resource Planning (ERP) systems.

Eleven years after its founding, ecosio has now been acquired by the US-based software company Vertex, which offers cloud-based software solution for taxes. Together with ecosio’s expertise in EDI and e-invoicing, Vertex now sets out to create a seamlessly integrated platform that also focuses on compliance management. The acquisition includes an upfront payment of 69 million US dollars, with a volume of up to 180 million US dollars that is linked to financial performance targets to be achieved within the next three years. ecosio’s founding team are Christian Huemer, Christoph Ebm, Marco Zapletal and Philipp Liegl.

Curious about what ecosio’s founders have to say? Stay tuned for more news and updates on TU Wien’s Founder & Investor Talk Series

* Yes, ERPEL is the same name as that for a male duck, in case you’re wondering 🦆

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