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TOC Biometrics

Date August, 2022
Client TOC Biometrics
Counterparty Sovos
Industry Biometrics
Amount Not disclosed
Transaction
Landmark Alantra acted as exclusive financial advisor to TOC Biometrics on the sale of 100% of its shares to Sovos, a global tax and transaction software provider.
Established in 2010, TOC Biometrics develops SaaS based biometric identity verification and biometric eSignature technologies. TOC Biometrics has positioned itself as a leading biometrics company in Latin America, with presence in Chile, Peru, Argentina, and Mexico. TOC Biometrics has a strong track record of +200 million ID verifications, +50 million eSignatures and +2.7 million onboardings for new bank accounts.
TOC Biometrics specializes in facial onboarding technology used by many financial institutions, using facial recognition to match a userís face to their official government ID, which ensures accuracy, security, privacy and consent. The company developed an R&D Lab in Germany which developed new technologies including IRIS recognition and universal fake ID detectors algorithm.
Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The companyís SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates.