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  6. Sovos Compliance Acquires Convey Compliance Systems

M&A Deal Summary

Sovos Compliance Acquires Convey Compliance Systems

On July 10, 2014, Sovos Compliance acquired business services company Convey Compliance Systems

Acquisition Highlights
  • This is Sovos Compliance’s 2nd transaction in the Business Services sector.
  • This is Sovos Compliance’s 2nd transaction in the United States.
  • This is Sovos Compliance’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2014-07-10
Target Convey Compliance Systems
Sector Business Services
Buyer(s) Sovos Compliance
Deal Type Merger

Target

Convey Compliance Systems

Minnetonka, Minnesota, United States
Convey provides cloud-based tax information reporting solutions. Convey processed 250 million information returns in the 2014 tax filing season and is the leading filer of 1099 forms in the United States, serving nearly half of the Fortune 500, including 8 of the top 20 companies, 13 of the top 20 commercial banks, and 7 of the top 20 health and life insurance companies.

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Buyer(S) 1

Buyer

Sovos Compliance

Wilmington, Massachusetts, United States
Category Company
Founded 1979
Sector Software
DESCRIPTION

Sovos Compliance is a provider of software that safeguards businesses from the burden and risk of modern transactional taxes. Combining the trusted industry expertise and global research capabilities of Convey, Taxware, and VAT Resource, the company enables over 3,000 clients to operate with the confidence to efficiently navigate today’s dynamic regulatory environment. Sovos Compliance was founded in 1979 and is based in Wilmington, Massachusetts.

DEAL STATS #
Overall 3 of 20
Sector (Business Services) 2 of 7
Type (Merger) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 8
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 Taxware

Salem, New Hampshire, United States

Taxware LLC is a provider of sales, use, and value added tax calculation and filing solutions to more than 1,200 customers. The Company’s suite of end-to-end software and outsourced services provides organizations with a single partner to manage all aspects of the sales and use tax compliance process, from tax calculation and forms completion, to secure funds transfer to state and local revenue departments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-02 ShipCompliant

Boulder, Colorado, United States

ShipCompliant is a provider in creating SaaS compliance and transaction platforms for the beverage alcohol industry. ShipCompliant makes products people use and love, reducing time to market and enabling new sales channels for wineries, breweries, distilleries, and importers of beverage alcohol products.

Buy -
Mergr

Product

Company

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