In November 2017, SageTax, a company that creates software that helps tax software developers use a software tax deduction to deduct software usage, filed for Chapter 11 bankruptcy protection.
The company was acquired by the company called Software Alliance.
It was the second company SageTax had been acquired by, in April 2018, for $1.8 billion.
The acquisition was made in an attempt to address the software tax gap.
Software Alliance acquired SageTax in an effort to address software tax liabilities and was able to raise about $6.5 million in a Series A round.
At the time, SageTowers was the largest tax software company in the United States.
That acquisition led to a lot of interest in SageTax.
The SageTower founders were all former employees of SageTax and the company was one of the biggest tax software companies in the world.
After the acquisition, SageTreasury was formed to handle SageTax’s tax software obligations.
When it came time to get the software, the company hired a bunch of ex-SageTax employees to help.
When they finished the acquisition of SageTreasures, they decided to change the name of the company to SageTreasurys and started a company called SageTreasure Solutions.
After several years of work, the two companies merged in October 2018.
After a year and a half, Sage Treasures was acquired in 2019.
SageTreums new name, SageSures, was approved by the Securities and Exchange Commission.
The companies merged into one company called New SageTures in December 2019.
