CMS advises Loctax on acquisition by Tax Systems
CMS has advised Loctax, a leading provider of collaborative tax, compliance, risk and governance solutions, on its acquisition by Tax Systems, a global tax and accounting software provider.
The transaction marks a significant milestone in the evolution of the European tax SaaS market, bringing together Loctax’s pioneering AI-driven tax control centre with Tax Systems’ established multi-tax compliance platform.
The acquisition will enable Tax Systems to accelerate its global expansion strategy and deliver a comprehensive, AI-powered platform for tax teams. By integrating Loctax’s innovative technology, Tax Systems will offer enhanced automation, oversight, and control over tax obligations across multiple jurisdictions, providing customers with complete visibility and assurance in their tax operations.
Loctax, founded in 2020 in Belgium and backed by leading European venture capital firms, has rapidly established itself as the first AI tax control centre for global tax operations. Its platform enables in-house finance and tax teams to manage global tax obligations, monitor KPIs, and orchestrate collaboration in an autonomous and secure environment.
The acquisition will see Loctax continue to operate under its own brand as “a Tax Systems company” during the transition period, ensuring continuity for customers while benefiting from the scale and backing of Tax Systems.
Commenting on the transaction, CMS Corporate Partner Tom Jameson said: “We’re pleased to have supported Loctax on this important transaction, which represents a transformative step for the tax technology sector. We look forward to seeing the positive impact this partnership will have on the industry.”
Stevi Frooninckx, CEO of Loctax, comments: “Joining forces with Tax Systems is a logical next step for Loctax. Throughout this transaction, the CMS team demonstrated exceptional expertise and commitment. The quality of advice and strategic guidance provided by CMS was instrumental in the success of this deal, and we’re grateful for their unwavering support at every stage.”
The CMS team was led by Corporate Partner Tom Jameson, assisted by Belinda Sweeney, Nana Donkor, Alexandra Stuart, Anna Ghataure, Rhiannon Mulcaire, Tommi Barnes and Hareni Ayadurai (Corporate); Cathy Wears, Catherine Merry and Ambrin McBrinn (Incentives); Becky Stewart and Johanna Dodgson (Tax). With support from David Prync and Gauthier Blommaert in CMS Belgium.
