M&A

M&A

Cygnet Infotech acquires UK-based tax-tech firm euVAT

Mint  

Ahmedabad-based Indirect tax solution provider Cygnet Infotech has acquired UK-based euVAT Online that provides cloud-based VAT technology solution. euVAT management team will join Cygnet's UK-based subsidiary. The acquisition will lead to an enhanced ground presence and new customer base for Cygnet across the UK and Europe. This deal will allow corporates and tax advisors to manage their VAT reclaims, report management for the VAT returns, and directly link and integrate their Amazon systems to convert multi-country transactions into compliant VAT returns to respective authorities.