Iris Business Services Limited — Updates, 02-07-2025: Press Release

IRIS Business has announced a board meeting to discuss the financial results for the quarter and half-year. The company has agreed to divest its Tax Technology (GST) ASP business to Sovos for INR 151.24 Cr. This move is aimed at simplifying operations and focusing on its faster-growing global RegTech segments. The deal will provide non-dilutive capital to fuel growth in IRIS’s core business lines. All employees and customers of the divested unit will transition to Sovos, ensuring continuity. The transaction is expected to close shortly after approvals.