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Sales Tax Software Providers Amalgamate, London

06 September 2002

Taxware, a leading provider of global tax compliance solutions and a division of govONE Solutions, has acquired the TaxSolver assets of ATX, a wholly owned subsidiary of United Communications Group Limited Partnership. TaxSolver claims to be the industry’s most advanced and flexible tax return solution for transaction taxes.

Currently, Taxware says it has thousands of clients worldwide that rely on its products for automated tax calculation and compliance that ease the audit process and support constantly changing tax laws and rates. TaxSolver broadens the value Taxware brings to this complex process – clients can now easily and automatically populate the required forms for filing state and local transaction taxes using data from any source including Taxware’s industry leading tax calculation engine. TaxSolver contains twice as many tax forms as anyone else in the industry and delivers underlying technology enabling Taxware to gain a competitive advantage in how it produces, maintains and displays forms.

“Automated return filing creates important new efficiencies for transaction tax compliance, eliminating unnecessary data entry while reducing errors. For the last 20 years, Taxware has been committed to decreasing compliance costs by providing our clients with the industry’s best technology. Partnering with one provider to calculate transaction taxes, import data from multiple sources, and automatically prepare returns simplifies the entire process,” said Michael W. Mancinelli, president of Taxware. “TaxSolver gives us the platform for a true end-to-end solution for sales and use taxes. We’re excited to offer our clients this extended capability, while continuing to bring them unmatched quality tax research, bundled with the latest technology and supported by superior customer service,” he added.

Businesses pay sales and use tax on a weekly, monthly or quarterly basis that together add up to more than $1 trillion annually. More than 45 million sales and use tax returns are filed annually, with over 3,000 different forms used. Just in 2001, 279 new sales taxes were imposed by 50 countries, 205 cities and 24 districts. TaxSolver helps businesses of all sizes by lowering processing time and costs, improving accuracy, creating a complete audit history, and reducing overpayments.

The TaxSolver platform works across multiple industries; current clients include telecommunications provider Verizon Wireless.

“Telecommunications is one of the most complex industries for taxes, and we’re already the leading provider. On average, a large telecommunications company will file more than 5,000 tax returns a month and pay over $4 billion in taxes each year,” explained Mancinelli. “TaxSolver’s functionality enables us to quickly respond to any customer’s needs, regardless of size or industry and will soon be enhanced to include e-filing capability.”

A central component of govONE Solutions’ growth strategy is to provide an end-to-end value chain of electronic payment and filing services for businesses, governments and financial institutions. This comprises tax calculation, form preparation to filing, payment processing, as well as post-transaction support. govONE Solutions will leverage the TaxSolver filing capabilities to other govONE Solutions businesses and products, including GovConnect, which provides advisory services and transaction processing for state and local governments and remitONE, a govONE Solutions tax payment product for businesses to pay federal, state and local taxes. govONE Solutions is an operating company of emerging payments innovator, eONE Global.

Under the terms of the agreement, in addition to the TaxSolver solution, approximately 20 employees, located in Caribou, Maine, will join Taxware. The purchase price of the transaction was not disclosed.

Taxware’s worldwide customers include thousands of leading businesses and Taxware’s partners include both systems integrators and technology companies. These clients and partners include: Anheuser Busch Company, Motorola, Sony, Owens Corning and, on the partner side, SAP, Oracle and PeopleSoft.

On August 1, 2002, ATX Forms, Inc., a tax software provider founded in 1992 and the former owner of the TaxSolver product line, was acquired by Rockville, Maryland-based United Communications Group (UCG), the nation’s leading independent provider of business-to-business information.

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