Hg-backed Sovos to acquire a tax technology business from IRIS Business Services.

Hg-backed Sovos, a global tax software provider, agreed to acquire a tax technology business from IRIS Business Services, an Indian fintech company providing compliance solutions to regulators, enterprises and financial institutions worldwide. Financial terms were not disclosed. "Every compliant enterprise must have a global strategy for e-invoicing mandates and VAT compliance. We are the only provider with a truly global tax compliance platform. With the IRIS GST acquisition, we just extended our leadership and dramatically enhanced the immediate value for customers and partners worldwide," Kevin Akeroyd, Sovos CEO.