HG Capital-backed Sovos completed the acquisition of Foriba.

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.