Sovos, a leading provider of tax compliance solutions, has announced its acquisition of the Tax Technology ASP business unit from IRIS Business Services, a global regtech company based in the Asia Pacific region.
This acquisition strengthens Sovos’s competitive position by expanding its presence in the Asia Pacific and Middle East markets, enabling faster deployment of compliance solutions. The integration of IRIS’s tax technology will enhance the Sovos Indirect Tax Suite with new modules for notice and litigation management, tax analytics, and e-way bill compliance—critical tools for businesses in complex tax environments.
The acquisition builds on a successful partnership between Sovos and IRIS, ensuring a smooth transition for customers supported by dedicated local experts. This move underscores Sovos’s commitment to providing a comprehensive tax compliance experience, enabling businesses to navigate global compliance challenges with confidence.
Support: Sovos was advised during this acquisition by Khaitan & Co and Burness Paull.
KEY QUOTES:
“Every compliant enterprise must have a global strategy for e-invoicing mandates and VAT compliance. We are the only provider with a truly global tax compliance platform. With the IRIS GST acquisition, we just extended our leadership and dramatically enhanced the immediate value for customers and partners worldwide.”
Kevin Akeroyd, CEO, Sovos
“Establishing a strong Asia Pacific footprint has been a key strategic priority for Sovos. This move positions Sovos to serve the rapidly growing Asia Pacific market more effectively for both businesses based here and conducting operations in this region.”
Alex Pavel, Managing Director APAC, at Sovos
“We are excited about the synergies this business combination brings. We believe it will unlock opportunities to add value more rapidly to our customers in APAC and globally.”
Gautam Mahanti, Business Head of IRIS’ Tax Tech business
