Private Equity Portfolio
Sales, use and value-added tax calculation, and filing solutions for corporate customers located primarily in the U.S. and Canada.
Sovos Compliance, LLC is a global provider of taxation compliance solutions. The Company delivers an end-to-end suite of software and outsourced services to manage sales, use, and value-added tax, and 1099-form family calculation and filing for customers of all sizes across verticals. Sovos Compliance’s solutions manage all aspects of the tax compliance process, from tax calculation, forms completion, and ultra-high-volume filing to secure funds transfer to state and local revenue departments. At the foundation of Sovos Compliance’s software suite is a powerful tax calculation engine that leverages the industry’s most comprehensive repository of more than 210 million tax rules in 13,500 plus jurisdictions across more than 200 countries. Sovos Compliance processes over 250 million 1099-family forms per year.
The Company is headquartered in Wilmington, MA with additional offices in Minnetonka, MN and the Netherlands.
Vista Equity Partners Fund IV completed a buyout of the Taxware business from ADP in December 2012 and rebranded the Company Sovos Compliance in February 2015.
HG Capital acquired the Company in March 2016.
Invoiceware International is a leading provider of mission critical tax and e-invoicing software solutions that reduce the risk and cost of maintaining compliance for large multinational companies navigating the highly complex regulatory environment in Latin America.
Sovos Compliance acquired Invoiceware International in July 2016.
Imaging Science and Services, Inc. is a leading provider of cloud-based document management and compliance services. The Company’s TEAMS software helps retailers, manufacturers, and other businesses manage their sales and use exemption and resale certificates.
Sovos Compliance acquired ISSI in May 2015.
ShipCompliant is the leading compliance and tax solution provider for the beverage alcohol market. The Company provides an integrated SaaS-based platform for over 3,300 wineries, breweries, distilleries, and importers of beverage alcohol products, enabling clients to easily access consumer and wholesaler markets throughout the United States.
Sovos Compliance acquired ShipCompliant in April 2015.
Convey Compliance is a provider of third-party tax reporting technology and services to over 2,000 clients. Convey Compliance processed 250 million information returns in the 2014 tax filing season and is the leading filer of 1099 forms in the United States. Convey Compliance serves nearly half of the Fortune 500, including eight of the top 20 companies, 13 of the top 20 commercial banks, and seven of the top 20 health and life insurance companies.
Taxware and Convey Compliance merged in July 2014 and rebranded as Sovos Compliance in February 2015.
Based in The Netherlands, VAT Resource is an independent VAT technology, consulting, and compliance outsourcing company. VAT Resource enhances Taxware already robust VAT content for tax determination, adds global VAT capability to the Company’s compliance software and outsourcing services, and expands Taxware’s European operations.
Sovos Compliance acquired VAT Resource in April 2014.