IGEN Acquires Motor Fuel License Center to Advance Tax Compliance Platform

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Feb 09, 2023, 14:27 ET

IGEN, a division of U.S. Venture, Inc., announces acquisition of MFLC

GREEN BAY, Wis., Feb. 9, 2023 /PRNewswire/ -- IGEN, a leading provider of excise tax compliance software, today announced it has acquired Motor Fuel License Center (MFLC), an online platform that helps oil and gas companies source licensing data to automate fuel tax compliance. Financial terms of the transaction were not disclosed.

"IGEN was founded on the mission to Find a Better Way for our clients to accurately and efficiently perform the mission-critical process of tax compliance. The integration of MFLC into IGEN's platform will help us deliver on that promise to our clients", said Ryan Padget, president at IGEN.

Like IGEN, MFLC started with a vision and set out to pioneer a new direction. Businesses of all sizes must contend with licensing to get tax compliance right. Acquiring a leading source of license content through MFLC allows IGEN to advance fuel tax reporting across the industry, set the standard for end-to-end compliance and better serve businesses of every size across the entire regulatory compliance lifecycle.

"As part of IGEN, we will create more opportunities for automating tax compliance, integrate services to unify data and decisions across all reporting platforms and ERP systems, and build the best solution with delivered content to manage certificates and centralize exemptions," said Matthew Schmeisser, founder and developer of Motor Fuel License Center. "We are committed to finding a better way for our clients and ready to help push the industry ahead."

As the company's first acquisition and extension into complementary compliance solutions, the acquisition of MFLC represents a milestone for IGEN moving forward beyond tax.

About IGEN

IGEN helps companies capitalize on their compliance. It's your complete toolkit for reducing redundancy and risk, all while ensuring you have better visibility of tax implications across the organization. IGEN's end-to-end compliance platform includes automation tools for managing licenses, tax data preparation, real-time tax calculation, reporting and filing. Explore more at www.IGENtax.com.

About Motor Fuel License Center

Motor Fuel License Center helps companies source data to automate fuel tax compliance. Its cloud-based software solves a well-known gap in tax compliance for oil and gas companies. As a single data source for preloaded license content, the platform complements any tax software to complete tax determination, return preparation, and reporting compliance. To learn more about its compliance automation capabilities for enterprise, including integration opportunities, visit www.MFLicenseCenter.com.

SOURCE IGEN