Sovos has announced the acquisition of Stupendo, a provider of automated e-invoicing services in Ecuador. This new partnership follows a number of recent acquisitions by Sovos in Latin America, strengthening its offering in the region.
John Gledhill, VP of Corporate Development at Sovos, said, “Stupendo is the seventh acquisition for Sovos in the past 12 months, and the third in South America during that time. With a 250% increase in M&A activity over the prior 12 months, Sovos continues to prioritise growth that helps businesses prosper and communities thrive amid the accelerating digitisation of tax and regulatory compliance.”
Steve Sprague, General Manager, Global Value-Added Tax at Sovos added “Ecuador has been gradually implementing e-invoicing since 2013, starting with large and mid-size businesses, and moving to smaller companies over the next few years. Sovos offers customers doing business in Ecuador and in more than 70 other countries the technology and services to help local teams execute on local priorities.”
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