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ClearTax acquires Karvy's GST services business for undisclosed sum

IBEF:  March 06, 2020

ClearTax, an online tax filing platform, has acquired GST software and services business of Karvy Data Management Services for an undisclosed amount. The acquisition will strengthen ClearTax’s GST enterprise customer base.

More than 200 enterprise customers of Karvy will be transferred to ClearTax with this acquisition. The company statement added that it also plans to hire employees from the GST division of Karvy Data Management Services.

Mr Archit Gupta, Founder & CEO, ClearTax, said, “With this strategic acquisition we will be able to quickly scale up our GST customer base. The new enterprises will benefit from all of our GST solutions, including e-Invoicing and will be able to comply with the new regulatory regime smoothly”.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.