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HgCapital-owned Sovos to acquire Turkey-based Foriba

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HgCapital-owned Sovos to acquire Turkey-based Foriba

Sovos Compliance LLC, owned by London-based private equity investor HgCapital LLP, agreed to acquire Istanbul-based Foriba AS, which deals in e-invoicing, e-delivery notes, e-receipts and periodic value-added tax reporting in Turkey and other locations.

Sovos is a global tax software provider with teams in Latin America, North America and Western Europe.

Terms of the deal were not disclosed, according to a release.

Deloitte served as financial adviser to Sovos, and Skadden and Akol provided legal counsel.

Gökçe provided legal counsel to Foriba and its investors, Revo Capital and International Finance Corp.