HgCapital makes major investment in Sovos

January 19, 2016

Sovos

Author

Sovos

This blog was last updated on January 19, 2016

We are excited to announce that HgCapital, a leading European-based private equity firm, has signed an agreement to invest in Sovos Compliance. Their investment will help us accelerate our growth through development and acquisition of innovative tax compliance solutions worldwide.

HgCapital selected Sovos for a key US-based investment

HgCapital uses a proven, sector-focused approach for investing in leading global providers of regulatory-driven software, which makes Sovos an excellent fit. HgCapital is the right partner at the right time to build on our extensive momentum and accelerate the expansion of our global business.

Implications for Sovos

We aim to be a trusted partner for companies navigating today’s dynamic global regulatory environment. The HgCapital partnership allows us to further our commitment to growth and the international expertise to rapidly advance the development of our tax compliance and reporting platform.

Over the past few years, Sovos has shown its commitment to growth and development with the launch of major enhancements to its Sales Tax and VAT solutions, 1099 Reporting capabilities, and most recently release of solutions for ACA and AEOI for FATCA/CDOT/CRS compliance, in addition to the acquisition of ShipCompliant for beverage alcohol compliance.

Vista Equity Partners remains an important shareholder, retaining a significant minority stake in Sovos Compliance.

Interested in how Sovos can craft a solution for your unique tax compliance needs? Contact us today.

Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.

Stay up to date with the latest tax and compliance updates that may impact your business.