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M&A Deal Summary

Sovos Compliance Acquires PetaPilot

On July 7, 2021, Sovos Compliance acquired software company PetaPilot

Acquisition Highlights
  • This is Sovos Compliance’s 3rd transaction in the Software sector.
  • This is Sovos Compliance’s 2nd transaction in Portugal.

M&A Deal Summary
Date 2021-07-07
Target PetaPilot
Sector Software
Buyer(s) Sovos Compliance
Deal Type Add-on Acquisition
Advisor(s) ECIJA (Legal)

Target

PetaPilot

Porto, Portugal
PetaPilot provides customers a scalable integrated data analytics tool for digital audit and tax compliance in a cloud or on-premise offering. The solution analyzes all of a company’s transactions contained in SAF-T files prior to the submission to the tax authority. The product is sold to both tax authorities and corporate customers. PetaPilot was founded in 2014 and is based in Porto, Portugal.

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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 17 of 20
Sector (Software) 3 of 5
Type (Add-on Acquisition) 15 of 18
Country (Portugal) 2 of 2
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Saphety

Lisbon, Portugal

Saphety is a provider of solutions for the electronic exchange of documents, electronic invoicing, financing of electronic invoices, presentation of electronic invoices, and data synchronization between companies. Saphety was founded in 2000 and is based in Lisbon, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-20 Digital Planet

Istanbul, Turkey

Digital Planet provides cloud compliance solutions for continuous transaction controls (CTCs), including e-invoicing, e-receipts, e-delivery note and e-ledger. The company's cloud solutions address e-transformation mandates, as well as customer communication management for banks, telecommunications, and insurance companies, which rely on Digital Planet solutions to provide telephone bills, bank receipts, credit card statements, insurance policies, and other personalized documents. Digital Planet was formed in 2000 and is based in Istanbul, Turkey.

Buy -
Mergr

Product

Company

Legal