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Announced

Completed

HG Capital-backed Sovos completed the acquisition of Foriba.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Turkey

compliance software

Private

Private Equity

Software

Acquisition

Single Bidder

Completed

Majority

Friendly

Cross Border

Synopsis

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HG Capital-backed Sovos, a global tax software leader, completed the acquisition of Foriba, an Istanbul-based software company, from International Finance Corporation, Revo Capital and Endeavor Catalyst. Financial terms were not disclosed. “Sovos’ acquisition of Foriba, along with other recent investments, helps us safeguard customers as countries around the world adopt e-invoicing, e-archiving and e-receipt regulations for B2B and B2C transactions,” Andy Hovancik, Sovos CEO.

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