Connect with us

News

Avalara Acquired by Vista Equity Partners for $8.4 Billion

Tax compliance firm Avalara has agreed to be acquired by Vista Equity Partners for $8.4 billion. Avalara has more than 30,000 customers in 95 countries. The transaction will take Avalara private, removing it from the New York Stock Exchange. Avalara is starting the week with a big move. The tax compliance firm has agreed to Read more…

The post Avalara Acquired by Vista Equity Partners for $8.4 Billion appeared first on Finovate.

  • Tax compliance firm Avalara has agreed to be acquired by Vista Equity Partners for $8.4 billion.
  • Avalara has more than 30,000 customers in 95 countries.
  • The transaction will take Avalara private, removing it from the New York Stock Exchange.

Avalara is starting the week with a big move. The tax compliance firm has agreed to be acquired by global investment firm Vista Equity Partners for $8.4 billion. Vista Equity Partners is acquiring Avalara at $93.50 per share, which represents a 27% premium of Avalara’s closing share price on July 6, 2022.

Founded in 2004, Avalara helps its more than 30,000 customers in 95 countries comply with tax regulations. The Washington-based company offers compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. In addition to tax compliance, Avalara also helps companies secure business licenses and provides sales tax data analysis that offer business insights. Among the company’s clients are Zillow, Pinterest, and Roku.

“Avalara is a mission-critical platform serving customers in a variety of end-markets, including retail, manufacturing, hospitality, and software,” said Vista Equity Partners Managing Director Adrian Alonso. “Avalara’s solutions, its commitment to product innovation, and its network of extensive partner integrations, resellers, and accountants make it a true leader in the space.”

Advertisement

Once complete, the transaction will take Avalara private, removing it from the New York Stock Exchange. Prior to going public in 2018, Avalara had raised $341 million. Scott McFarlane
is co-founder and CEO.


Photo by Monstera

Advertisement

The post Avalara Acquired by Vista Equity Partners for $8.4 Billion appeared first on Finovate.

Advertisement

Finovate

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.