In Its Largest Acquisition Outside the U.S., Sovos Buys Acepta’s Digital Enablement Business

Andy Hovancik
May 3, 2021

Today, Sovos announced our most recent acquisition – a deal that is our largest ever outside of the United States, and one that brings our global team to more than 2,000 employees. While the acquisition of Chile-based Acepta certainly marks some milestones for Sovos, it more importantly signals even broader support for our customers throughout Latin America, as well as those in every region where governments are embracing digital tax compliance.

As countries in Latin America and around the world successfully digitize tax compliance, authorities are looking to expand those capabilities beyond the transaction level for the economic betterment of their societies. With this acquisition, Sovos adds thousands of businesses of every size to our customer base, while strengthening our presence in telecom, financial services, retail and other industries. We have also gained new product capabilities that advance our mission to Solve Tax for Good globally, for all our customers, whether they do business in 60 or more countries, or in one.

Why Acepta?

Acepta has long been one of Latin America’s leading providers of e-invoicing, e-receipts, e-documents and digital certificate solutions. With Acepta, Sovos deepens its continuous transaction control (CTC) compliance offerings and expands its portfolio with e-document solutions, including management workflow with signature capabilities.

Today’s announcement is the continuation of a years-long build toward the most comprehensive solutions for the challenges of modern, digital tax compliance. In 2018, Sovos purchased Sweden-based Trustweaver, whose technology ensured business document integrity. In 2017, we acquired Chile-based Paperless, which began as a certificate provider before building e-receipt solutions. And in Mexico, Sovos has similar capabilities and is a certificate services provider (PSC) authorized by the Mexican Secretariat of Economy to certify e-signatures and other forms of identification under the country’s NOM 151 standard to preserve the integrity of data and digital documents.

The talent and technology for global tax compliance

With hundreds of employees in the region and two decades of innovation, Acepta adds to Sovos technology and talent in both our core and adjacent areas. Today, we expand the customers and industries we serve, while offering both our existing and new customers in the region the immediate value of a broader portfolio of solutions. We also see future benefits for customers and future customers in every economy with similar compliance mandates, including those elsewhere in Latin America, and in Europe and Asia.

Learn more about Sovos here.

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Author

Andy Hovancik

As president and Chief Executive Officer, Andy guides Sovos’ mission to deliver peace of mind through intelligent compliance for the 4,500 clients that are met with demanding tax compliance and reporting obligations while growing their businesses. Andy joined the company in January 2013 at a time when the industry expertise, market leadership and experience of Taxware, VAT Resource, Convey and ShipCompliant solutions were combined under Sovos to resolve businesses’ most complex compliance challenges on a global scale. His leadership experience spans more than 25 years, during which time he has successfully grown technology companies with a forward-thinking approach to solving key challenges in the services and manufacturing industries. With 15 years of experience in regulatory and compliance software, Andy understands the challenges faced with business-to-government compliance and ensures Sovos serves as a proactive partner in compliance, rather than a reactive solution. Andy holds a B.A. in Business Management & Marketing from Cornell University and an M.B.A. from Tulane University.
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