Sovos, a global tax software provider, has acquired TLI Consulting GmBH. The deal will serve to advance Sovos’ value-added tax determination capabilities.
TLI serves businesses whose transaction and tax determinations are too complex to configure or maintain via native SAP with in-house expertise. The firm provides a software service to extend native SAP VAT determination functionality.
TLI is the ninth acquisition made by Sovos in the last 12 months. Sovos intends to create an enhanced VAT determination service for businesses within complex supply chains. The deal will gain TLI’s SAP software services and expertise to build Sovos’ global tax engine strategy.
“As a global organization with more than 2,300 employees, Sovos will scale TLI Consulting’s software and services business in support of the largest multinational companies with complex business transactions in Europe,” said John Gledhill, VP of corporate development for Sovos.
Sovos is owned by Hg, the London-based specialist private equity investor focused on software and service businesses, and TA Associates. EY served as financial advisor to Sovos, and Burness Paull and Luther provided legal counsel. Rödl & Partner advised TLI Consulting.