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Sovos extends VAT Determination capabilities with acquisition of Germany’s TLI Consulting

Global tax software provider Sovos has announced it has acquired Germany-based TLI Consulting GmBH. The move significantly advances Sovos’ value-added tax (VAT) determination capabilities, with immediate benefits for businesses running SAP.

VAT determination is one of three pillars of modern tax compliance, and often the first that multinational companies tackle before addressing digital reporting and complex continuous tax controls (CTCs), like e-invoicing. Sovos will leverage TLI Consulting’s software, consulting services and team to help customers Solve Tax for Good® with complete, continuous and connected solutions for every facet of the digital transformation of compliance.

Sovos is on a years’ long journey to build end-to-end offerings that help businesses infuse trust in every transaction. That journey has included the acquisition and development of global CTC, VAT reporting and SAF-T solutions, and a Sovos Connect Once API for a seamless customer experience across systems that need to comply with a wave of real-time and e-audit VAT mandates.

TLI Consulting, Sovos’ ninth acquisition in the past 12 months, continues that journey with enhanced VAT determination for businesses with complex supply chains covering a broad jurisdictional landscape across Europe and beyond.

“Sovos has built the most complete suite of technology and services for frictionless compliance in digitizing economies, with advanced solutions for CTC, SAF-T, VAT reporting and other global requirements,” said Andy Hovancik, CEO, Sovos. “The acquisition of TLI Consulting continues that leadership with heightened capabilities for VAT determination, which is often the first piece of an increasingly complex puzzle companies must solve.”

“As we join Sovos, the TLI Consulting team gains the opportunity to help create the one-stop VAT solutions companies crave, while expanding our reach as part of a global technology leader. We look forward to this next phase and the positive impact it will have on our customers and future customers,” said Martin Grote, Sovos vice president of European VAT determination and former TLI Consulting director.

The terms of the deal were not disclosed. Sovos is owned by Hg, the London-based specialist private equity investor focused on software and service businesses, and TA Associates. EY served as financial advisor to Sovos, and Burness Paull and Luther provided legal counsel. Rödl & Partner advised TLI Consulting.

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