CCH has acquired SpeedTax, a Laguna Hills, Calif.-based company that markets internet-based sales-and-use tax applications. CCH said that SpeedTax would continue to be offered as product line separate from its CorpSystem tax product. SpeedTax's web-based system performs automated tax-calculations.

"We are taking on a number of their employees and their technology," said Mike Sabbatis, CEO and president of CCH, in an interview yesterday. "Our intent is to continue that investment."

Founded in 2007, SpeedTax also provides automatic return preparation and filing, while enabling reporting, treasury management and audit defense with web-based compliance management and reporting tools. Terms of the acquisition were not disclosed.

SpeedTax CEO Anton Donde will perform consulting services, but will not join CCH. Sabbatis said most sales, marketing and technology staff from the small company would work at CCH. Initially, the product will be marketed as CCH SpeedTax, although Sabbatis said it's possible it would be "more closely branded" later.

Both SpeedTax and CCH utilize resellers to reach end users. However, SpeedTax is focused on the small-and-midsized organization. Sabbatis also cited the acquired company's CPA program and services. SpeedTax Pro is described as designed for CPA firms and SALT organizations.