Our M&A Worldwide representative in Brazil, advised in an international acquisition in the Information Technology industry.
As the Dutch representative of M&A Worldwide, we are proud to announce that global operating Sovos acquired the Brazil-based Taxweb. M&A Worldwide’s Brazilian representative acted as the exclusive advisor of the shareholders of Taxweb. SOVOS, a global tax software provider, has signed an agreement to acquire 100% of the shares in Taxweb.
Global tax software provider Sovos announced it has acquired São Paulo-based Taxweb, a provider of tax determination software for enterprises operating in Brazil. Tax determination, along with continuous compliance and tax reporting, is one of the three pillars of modern tax and a key element in the Sovos mission to Solve Tax for Good? wherever companies do business. Taxweb’s technology and experience with Brazil’s decade-long evolution toward continuous tax controls (CTCs) is applicable in every country with the clearance electronic e-invoicing model, including Chile, Mexico, Italy and others across Latin America, Europe and beyond.
With this expansion of tax determination capabilities in Brazil, Sovos now offers real-time tax rates for value-added tax (VAT), sales and use tax, excise tax, and goods and services tax (GST) in more than 100 countries. Sovos’ solutions for VAT compliance also include continuous transaction controls (e-invoicing, e-receipt, e-delivery notes) and VAT reporting. This breadth and depth of offerings is critical for Brazil-headquartered manufacturers, retailers and ecommerce businesses, as well as for multinational companies operating in Brazil.
Taxweb was founded in 2009 and provides tax determination software for enterprises operating in Brazil. The company serves many of the country’s largest retailers, including eight of the top 10 retailers. The tax environment in Brazil poses a huge challenge to companies operating in any of the 5,000+ cities across more than two dozen states. With an ecosystem of ERP, point-of-sale and other partners, Taxweb helps customers comply with tax regulations in one of the world’s most complex regimes, while reducing operational costs and the risk of tax liabilities.
More about Taxweb https://www.taxweb.com.br/
Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, continuous transaction controls, and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg.
More about SOVOS https://sovos.com/