Divestiture • Software

Vista Equity Partners Acquires Sovos Compliance

On November 6, 2012, private equity firm Vista Equity Partners acquired software company Sovos Compliance from ADP

Acquisition Context
  • This is Vista Equity Partners’ 15th transaction in the Software sector.
  • This is Vista Equity Partners’ 28th transaction in the United States.
  • This is Vista Equity Partners’ 2nd transaction in Massachusetts.
Investment Fate
  • Sovos Compliance was sold to a consortium of financial buyers in 2016.

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M&A Deal Summary

Date November 6, 2012
Target Sovos Compliance
Sector Software
Buyer(s) Vista Equity Partners
Sellers(s) ADP
Deal Type Divestiture

Target Company

Sovos Compliance

Wilmington, Massachusetts, United States
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.
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Buyer Overview 1

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.


Deal Context for Buyer #
Overall 32 of 155
Sector: Software 15 of 62
Type: Divestiture 6 of 12
State: Massachusetts 2 of 17
Country: United States 28 of 143
Year: 2012 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-17 BigMachines

Deerfield, Illinois, United States

BigMachines, Inc. is a provider of Software as a Service (SaaS) solutions that help companies automate and streamline complex sales processes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-26 Aderant Holdings

Atlanta, Georgia, United States

Aderant Holdings, Inc. is an independent legal software provider that offers comprehensive practice, financial and case management solutions for law and professional services firms of all sizes worldwide.

Sell -

Seller Profile 1

SELLER

ADP

Roseland, New Jersey, United States

Category Company
Founded 1949
Sector Business Services
Employees64,000
Revenue 18.2B USD (2024)
DESCRIPTION
ADP office in St. Louis, Missouri.
ADP office in St. Louis, Missouri.

ADP is a provider of business outsourcing solutions. ADP offers a wide range of human resource (HR), payroll, tax and benefits administration solutions from a single source. ADP is also a provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment retailers and manufacturers throughout the world. ADP was incorporated in 1949 and is based in Roseland, New Jersey.


Deal Context for Seller #
Overall 4 of 7
Sector: Software 3 of 4
Type: Divestiture 3 of 6
State: Massachusetts 1 of 1
Country: United States 4 of 7
Year: 2012 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-03 SHPS

Louisville, Kentucky, United States

SHPS, Inc. is dedicated to helping organizations improve member health and control healthcare costs through its Carewise Health and Landacorp subsidiaries. Landacorp creates care management software and solutions that enables highly efficient collaboration among health plans, providers and members.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-04 PayRoll S.A.

Providencia, Chile

Payroll S.A. provides a broad array of payroll and HR outsourcing solutions to clients of all sizes, including domestic and multi-national organizations

Buy -