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IRIS Business Services inks pact to divest Tax Technology ASP business to Sovos
Jul-03-2025

IRIS Business Services has entered into a definitive agreement to divest its Tax Technology (GST) ASP business to Sovos, a global leader in tax compliance, headquartered in the US. The transaction will enable a seamless transfer of the tax technology (GST) ASP products, customers and employees associated with these businesses. Total transaction value of the divestment is Rs 151.24 crore. 

Post deal close, all employees of the business unit are expected to transition to Sovos, ensuring continuity for both employees and customers. The transaction is expected to close in August 2025, subject to the shareholder approval and satisfaction of the customary closing conditions.

IRIS Business Services provides financial information, research, and training solutions to institutional, manufacturing, retail, and other industries in India and internationally.


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