12:26 PM EDT, 08/07/2024 (MT Newswires) -- Vertex (VERX) said Wednesday it will acquire Ecosio, which provides electronic data interchange and e-invoicing integration services, in a deal valued at up to $180 million.

The transaction includes an upfront cash payment of $69 million, a targeted earnout of $76 million in cash, and $35 million of Vertex's shares over the next three years, according to the company.

Vertex said the is expected close in the third quarter, dependent on approval from Austrian regulators.

The company said it will fund the upfront payment with cash at hand.

Shares of Vertex were up 1.1% in recent trading.

Price: 36.55, Change: +0.38, Percent Change: +1.05