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Sovos Acquires Acepta and Strengthens LatAm Offering

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Sally Hardcastle
Senior Researcher, sharedserviceslink
2021/05/04

Yesterday, Sovos announced it had acquired Acepta, a leading provider of e-invoicing, e-receipts, e-documents, and digital certificate solutions, based in Chile. The acquisition, Sovos' largest outside of the US, is the next step in their mission to ‘Solve Tax for Good’.

"The acquisition of Acepta furthers Sovos' leadership in digital tax compliance and positions us to meet adjacent compliance needs as governments advance the digitization of their economies. Today's announcement reflects our long-held strategy to combine global reach with local execution, so we can meet the needs of our customers anywhere they do business, whether that is in 60 countries or in one," said Andy Hovancik, CEO, Sovos.

The VAT compliance solutions market is growing rapidly as governments around the world look to digitise VAT and implement Continuous Transaction Controls to maximise revenue collection. Acepta’s platform is used by customers in Chile, Peru and Colombia and comes hot on the heels of their acquisition of Brazil-based Fit Sistemas.

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