SOURCE: Sabrix, Inc.

February 28, 2007 08:00 ET

Sabrix Announces 2006 Milestones

Customer Adoption and Revenue Continue to Grow at Solid Pace

SAN RAMON, CA -- (MARKET WIRE) -- February 28, 2007 -- Sabrix®, Inc., the leading provider of transaction tax management solutions, today announced that it continued adding new customers at a solid pace resulting in over 100% revenue growth for the twelve months ending December 31, 2006. The company's customers have deployed the Sabrix Application Suite in over 140 countries including Brazil, Hungary and India, further demonstrating the company's continued dominance in the global market for tax compliance implementations.

The Sabrix Solution is an enterprise-class, consolidated transaction tax management solution that seamlessly connects to all business applications requiring the determination, calculation and recording of transaction taxes. With Sabrix, a company has a single transaction tax solution and a single compliance and audit database with distributed management and control for tax professionals. The Sabrix Solution supports global enterprises, shared service models, and U.S. companies requiring sales, use and value-added tax automation.

Enterprises selecting Sabrix's transaction tax management solutions in 2006 include many marquee companies from the high-tech, energy, oil & gas, manufacturing, retail, financial services, and hospitality industries, including: Dupont, a leading science-based products and services company; High Industries, a leading provider of a broad range of exceptional manufacturing, real estate, construction and business services and products throughout Pennsylvania; Lenovo, an innovative, international technology company formed as a result of the acquisition by the Lenovo Group of the IBM Personal Computing Division and a global leader in the PC market; Sun Microsystems, an innovative industry leader providing the computing systems, storage, software, and services that power the world's most important markets; and Sunoco, a leading manufacturer and marketer of petroleum and petrochemical products.

In addition to customer growth, Sabrix introduced the Sabrix Managed Tax Service™ (MTS), an on-demand version of Sabrix's enterprise software and tax research that is supported by a team of tax and legal professionals dedicated to researching the latest developments in tax law. Sabrix MTS, which was exclusively developed for growing and mid-sized companies, operates as a trusted extension of a company's finance department, handling the complete sales and use tax and VAT compliance process from start to finish. As a fully automated service, it works seamlessly with a company's accounting software to provide up-to-date rate maintenance, real-time calculation of taxes for financial transactions, timely preparation of signature-ready returns, as well as audit research and support services.

Notable yearly highlights:

--  Raised $13 million in Series D funding to apply toward the continued
    growth of the company.
--  Established leadership position in the oil & gas industry and
    associated excise taxes.
--  Expanded its presence in the retail market with industry record
    implementation times at companies such as Sportsman's Warehouse, who was up-
    and-running with Sabrix for use tax in less than 30 days.
--  Expanded our product taxability with a 40% increase in new categories
    such as fuel related products, store coupons, and temporary personnel

"We're very grateful to our existing and new customers as well as our partners, who have contributed to a year of solid growth for the company," said Steve Adams, CEO of Sabrix. "Our continued growth, particularly our dominance in global deployments, underscores our customers' needs for a transaction tax solution that marries best-of-breed technology with world-class tax research to support the compliance requirements of the most successful companies in the world. And now, with MTS, we'll extend that same technology and tax domain expertise to the mid-market, enabling us to address the compliance needs of companies of all sizes. These are exciting times for Sabrix and its customers."

About Sabrix

Sabrix, Inc. is a proven expert in transaction tax management, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, value-added tax (VAT), and industry-specific taxes and fees. The company's flagship product, the Sabrix Application Suite, empowers Global 2000 companies to manage transaction tax with consistent accuracy, control, and efficiency. The Sabrix Application Suite is an enterprise-class, centralized transaction tax management system that seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. With Sabrix, a company has a single transaction tax solution and a single system of record for transaction tax compliance, with distributed management and control for geographically dispersed tax professionals. The Sabrix Application Suite has been implemented at global enterprises across a variety of industries, including, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman's Warehouse, and York International.

The company also offers the Sabrix Managed Tax Service™ (MTS) to address the transaction tax requirements of companies of all sizes. Sabrix MTS is an outsourced transaction tax compliance service that helps finance departments eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company's existing accounting and e-commerce systems and, similar to outsourced payroll services, operates as a trusted extension of a company's finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit

Sabrix, Sabrix Managed Tax Service, and Consolidated Transaction Tax Management are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

Contact Information