Sovos Acquires TOC Biometrics, Strengthens Biometric Identity Verification and Electronic Signature Capabilities

August 24, 2022

Companies can proactively move to ensure compliance for tax and transactions between parties 

BOSTON – August 24, 2022 – Global tax software provider Sovos today announced it has acquired Santiago, Chile-based TOC Biometrics, a leading provider of identity verification and electronic signature solutions throughout South and Latin America. TOC Biometrics designs flexible solutions that are adaptable to customers’ needs and help to speed up a company’s digitalization process. This acquisition will enhance Sovos’ solutions portfolio so that customers can ensure compliance with a growing range of legal and fiscal requirements for robust user identities in rapidly digitizing economies globally.

TOC significantly strengthens Sovos’ current capabilities in the field of biometrics – to date they have been credited with 200+ million ID verifications and 50+ million electronic signatures – specifically in the areas of electronic signature, where customers can now legally sign documents of any type digitally with full confidence that the user has been verified. TOC solutions enable seamless identity verification by measuring physical attributes to verify that a person is who they say they are. This greatly reduces the risk of impersonation, thus generating faster, safer and more efficient processes.

“Most companies are looking to stay ahead of digitalization trends and the minimum required by governments to create a higher standard of compliance and legal certainty for their organization. The TOC Biometrics acquisition builds upon the impressive portfolio of solutions Sovos already has in place, allowing our customers to transact anywhere in the world knowing they will be compliant and dealing with an authorized user,” said Alvaro Gonzalez, managing director, Latin America.

TOC Biometrics has already established itself as an innovator in South and Latin America. Driving change and developing new technologies and solutions that make it safer and easier for companies to conduct business digitally across a number of markets including banking, insurance and financial services among many others. With its flexible architecture, TOC solutions will complement Sovos’ existing portfolio well, providing the tools necessary to operate in even the most highly regulated areas while helping to eliminate fraud.

“We eliminate doubt about the validity of transactions for our customers by using biometric technology to confirm that an online user is the authorized person they are claiming to be. This is critical for the legitimacy of global commerce. Together with Sovos, we will be able to expand the usage of our best-in-class technology to a much larger user base across a broader geographic footprint,” said Ricardo Navarro, founder, TOC Biometrics.

Sovos is owned by Hg, the London-based specialist private equity investor focused on software and service businesses, and TA Associates. The terms of the deal were not disclosed. Landmark Alantra served as financial advisor to TOC Biometrics and Letelier Nuñez Abogados provided legal counsel.


About Sovos 
Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates. For more information visit and follow us on LinkedIn and Twitter.

About TOC Biometrics 
TOC Biometrics provides software and hardware for a multitude of applications requiring secure identity verification. Since our beginnings, TOC has had a significant presence in highly regulated industries due to the high level of security granted by our identity verification service without enrollment. We do not store information of any kind we just make the biometric match between the person and user identity on file. TOC digital signatures of documents deliver substantial administrative benefits. Read more:

Sign up for Email Updates

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

Additional Press Releases

May 20, 2024
CRN Recognizes Five Outstanding Performers from Sovos on the 2024 Women of the Channel List

ATLANTA, GA May 17, 2024 — Sovos, the always-on compliance company, announced today that CRN®, a brand of The Channel Company, has named Heidi Biggar, Claire Hulett, Danielle Moore, Emily Cripe and Wendy Francis to the Women of the Channel list for 2024. Every year, CRN highlights women from vendor, distributor, and solution provider organizations […]

Read more
E-Invoicing Compliance EMEA
May 14, 2024
Esker and Sovos complete successful e-invoicing interoperability tests in the context of their PDP applications.

(Paris) May 14, 2024 – Two leading e-invoicing solution vendors in the French and global markets, Esker SA and Sovos, have announced that they have interconnected their platforms as a major step in their applications to become government-registered ‘PDPs’, or Partner Dematerialization Platforms. The French e-Invoicing reform will see 4 million companies mandated to accept […]

Read more
April 30, 2024
Sovos Introduces Indirect Tax Suite to Meet Complexities of Global Compliance

Comprehensive software suite provides customizable, always-on solutions for tax determination, e-invoicing and filing   (ATLANTA – April 30, 2024) Sovos, the always-on compliance company, introduces its Indirect Tax Suite, a comprehensive, integrated solution to modernize how companies meet global indirect tax obligations.  Part of the Sovos Compliance Cloud, the Indirect Tax Suite empowers enterprises to manage […]

Read more
E-Invoicing Compliance EMEA
April 24, 2024
Sovos Fortifies U.S.- Based DBNAlliance to Enhance Seamless Global Business Networks

LONDON, April 24, 2024 – Sovos, the always-on compliance company, announced that it has aligned with the Digital Business Networks Alliance (DBNAlliance) as an early member, marking a significant milestone in the initiative’s development. As major player in the industry processing more than 11 billion transactions each year, Sovos’ membership is a substantial show of […]

Read more
North America
April 15, 2024
Sovos Streamlines Partner Network, Accelerating Joint Revenue Opportunities  

  Enhanced program provides access to the industry’s only complete platform for tax compliance and regulatory reporting (ATLANTA – April 15, 2024) Sovos, the always-on compliance company, today announced enhancements to its Sovos Partner Network program, further elevating its commitment to transform compliance from a business requirement into a force for growth. The simplified program […]

Read more