Vista Equity to buy tax compliance automation provider Avalara
The acquisition is expected to close in the second half of 2022
Global investment firm Vista Equity Partners announced Monday its plans to acquire tax compliance automation provider Avalara for $8.4 billion.
Through the deal, which was unanimously approved by Avalara’s board of directors, Vista will acquire all of Avalara’s outstanding shares of common stock for $93.50 per share in an all-cash transaction, according to an Avalara release.
The acquisition allows Vista to enhance its go-to-market strategy and expand its international workforce, according to the release.
“Vista has built a reputation as a preferred partner for founder-led, next-generation software companies,” Monti Saroya, co-head of Vista’s flagship fund, said in a statement.
The acquisition is expected to close in the second half of 2022 and is not subject to a financing condition.
Vista Equity Partners declined Bank Automation News’ request for comment.
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