Sovos Acquires Iowa’s Eagle Technology Management (ETM)

Cedar Rapids, Iowa – May 29, 2019 – Global tax software provider Sovos is acquiring Iowa-based Eagle Technology Management (ETM), which provides statutory financial reporting and insurance premium tax software to insurers, and unclaimed property reporting products and services to financial institutions, corporations and insurance companies in the United States.
ETM customers include more than U.S. 1,500 insurance companies. Additionally, nearly 5,000 customers have adopted ETM’s unclaimed property platform, as businesses in the United States are subject to unclaimed property audits by 53 reporting jurisdictions.
Sovos’ announcement said ETM’s products and services expand Sovos’ software coverage to meet additional customer needs, Sovos’ tax information reporting solutions will help ETM’s insurance, financial institution and corporate customers.
ETM launched its Wings platform for integrated financial and regulatory reporting in 2003, followed several years later by the launch of its pure-play cloud computing portfolio of unclaimed property reporting products. UPExchange and UPExpress launched with the exclusive endorsement of the National Association of Unclaimed Property Administrators, and ETM’s proprietary online reporting network now connects businesses to state treasuries in 36 states.
The terms of the deal were not disclosed. Sovos is owned by Hg, the London-based specialist private equity investor focused on software and service businesses.
EY served as financial advisor to Sovos and Morris, Manning & Martin provided legal counsel. Shuttleworth & Ingersoll provided legal counsel to ETM.
About ETM

ETM is a Web-application-development firm that specializes in providing statutory financial reporting, tax-compliance, and unclaimed property reporting services, making its clients more efficient, consistently accurate, and uniformly compliant. Founded in 2001, ETM has served nearly 50,000 companies and is the leading provider of software to automate and file financial information to meet numerous regulated reporting requirements. In 2010, ETM developed a web application for Unclaimed Property reporting. ETM has pioneered the development of electronic filing specifications and electronic payment to the state regulatory departments. For more information, please visit www.byETM.comcall (855) 737-1688, or e-mail sales@byetm.com

PosiTax by ETM Receives Kentucky Verification Renewal

Cedar Rapids, Iowa – March 1, 2018 – Today, ETM announced that their risk location software, PosiTax has received the state of Kentucky's verification renewal in accordance with the KRS 91A.0806(6) and HB 524 insurnce premium tax requirements. 

For a company's risk location service software to be verified by the state of Kentucky, there are specific criteria that must be met. It must:

- Achieve an overall level of accuracy of at least ninety percent (90%) in identifying the city or country within which an address is located; and
- Is updated at least quarterly with regard to changes in municipal and county bounday data, street address, and zip codes.
- The risk location system must use the municipal and county boundary daa available from the Kentucky Commonwealth Office of Technology. The data is based on municipal and other filings with the Secretary of Sate as its sole source of boundary data.

Additional compliance requirement information can be located at the State of Kentucky Department of Insurance Implementation Update document.


About ETM

ETM is a Web-application-development firm that specializes in providing statutory financial reporting, tax-compliance, and unclaimed property reporting services, making its clients more efficient, consistently accurate, and uniformly compliant. Founded in 2001, ETM has served nearly 50,000 companies and is the leading provider of software to automate and file financial information to meet numerous regulated reporting requirements. In 2010, ETM developed a web application for Unclaimed Property reporting. ETM has pioneered the development of electronic filing specifications and electronic payment to the state regulatory departments. For more information, please visit www.byETM.comcall (855) 737-1688, or e-mail sales@byetm.com

ETM Launches New Upgraded Website to Enhance User Experience









Cedar Rapids, Iowa – December 21, 2017 – Today, ETM announced that their company has dramatically improved the design of their byETM website, allowing for better user experience and simpler site navigation. ETM is the developer of WingsPlus for statutory financial reporting, UPEnterprise for managing unclaimed property reports, and UPExpress for online, unclaimed property remittance.

The new website, which can be found at www.byETM.com, highlights a sleek, yet simplified navigation structure with clear organization of content. With just a few mouse clicks, visitors can easily identify product specific content that fits their needs.

As part of the company’s mission to be committed to the highest standards in security, innovation, integrity, and excellence in their product offerings, the company logo has also been updated to include Statutory Reporting and Unclaimed Property, clearly defining the markets in which ETM serves.

“The updated logo clearly reflects the markets we serve, enabling those who are searching for top-notch, secure, and innovative compliance software solutions to quickly identify ETM as their compliance partner,” ETM Chief Executive Officer Layton Olson said.

The new website design and enhanced company logo are the first of many plans ETM has incorporated into their integrated marketing and social media campaign. Olson added, “As a SOC 2, Type 2 certified compliance software provider, we understand the importance our clients place in innovative, secure, and proven technology. With every footprint ETM leaves with clients and prospects alike, our goal is to ensure a positive user experience. We hope the updated company logo and new website design helps to achieve that goal.”

About ETM
ETM is a Web-application-development firm that specializes in providing statutory financial reporting, tax-compliance, and unclaimed property reporting services, making its clients more efficient, consistently accurate, and uniformly compliant. Founded in 2001, ETM has served nearly 50,000 companies and is the leading provider of software to automate and file financial information to meet numerous regulated reporting requirements. In 2010, ETM developed a web application for Unclaimed Property reporting. ETM has pioneered the development of electronic filing specifications and electronic payment to the state regulatory departments. For more information, please visit www.byETM.com, call (855) 737-1688, or e-mail sales@byetm.com

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Sovos Acquires Iowa’s Eagle Technology Management (ETM)

Cedar Rapids, Iowa – May 29, 2019   –  Global tax software provider Sovos is acquiring Iowa-based Eagle Technology Management (ETM), which ...

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