Factors which may cause actual results to differ materially from current expectations include, but are not limited to: our ability to complete the ecosio on the currently contemplated terms or at all; the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the anticipated acquisition; the costs incurred to consummate the ecosio acquisition; the possibility that the expected benefits from the acquisition will not be realized, or will not be realized within the expected time period; difficulties related to the integration of the two companies; disruption from the ecosio acquisition making it more difficult to maintain relationships with customers, employees, regulators or suppliers; the diversion of management time and attention on the anticipated acquisition; adverse changes in the markets in which Vertex and ecosio operate; our ability to sustain and expand revenues, maintain profitability, and to effectively manage our anticipated growth; our ability to maintain and expand our strategic relationships with third parties; and the other factors described under the heading "Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the Securities Exchange Commission ("SEC”), as may be subsequently updated by our other SEC filings.
By extending its leadership into e-invoicing through the acquisition of ecosio, Vertex expects to expand its market opportunity with considerable upside opportunities as the Company helps customers navigate evolving compliance mandates globally. Advances International Growth Strategy: Today, ecosio directly supports Continuous Transaction Controls ("CTC”) and B2G mandates globally.
Vertex will utilize cash on hand to fund the upfront cash payment. Closing is subject to local regulatory approvals and expected to take place by the end of the third quarter of 2024. Vertex believes acquiring ecosio will provide significant benefits to stakeholders of the combined company, including: Significantly Expands Market Opportunity: The e-invoicing market is large and growing, fueled by legislation and an increasingly complex compliance environment for companies to navigate.
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