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US-based Avalara acquires AI start-up Indix

IANS  |  Mumbai 

Seattle-headquartered Avalara, a provider of for businesses, on Friday said it had acquired Indix's (AI)and the team that created it for an undisclosed sum.

Sanjay Parthasarathy, of US-based Indix, said and share a similar global vision.

"From day one, we built to collect, organise, and structure the world's product information using Artificial Intelligence," Parthasarathy said in a statement.

"With the addition of the expertise, will be able to efficiently and rapidly refine its content to meet the expanding and evolving needs of its customers," he added.

With the acquisition, will be able to use Indix's product descriptions for more than one billion products sold and shipped worldwide.

Avalara said it intends to use the Indix AI to maintain and expand its massive tax content database, which includes international product codes and classifications, taxability rules, exemption conditions, tax holidays, jurisdictions, boundaries, tax rates, thresholds and registration, compliance, and return preparation and filing requirements.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 14:12 IST