Vista Equity Partners, in partnership with institutional co-investors, has accomplished its acquisition of Avalara, Inc., a supplier of tax compliance automation for companies of all sizes. Vista is a worldwide funding agency centered on enterprise software program, information and technology-enabled companies, in partnership with institutional co-investors. The deal valued Avalara inventory at $93.50 per share in money.
“Immediately marks an thrilling new chapter for Avalara. We thank our staff, clients, companions, and shareholders for his or her belief throughout this course of, and we’re excited to start our work alongside Vista,” stated Scott McFarlane, co-founder and CEO of Avalara. “Because the main enterprise software program investor, Vista is aware of what it takes to pursue and obtain excellence. We sit up for partnering with their skilled group to advance our mission to turn out to be the worldwide cloud compliance platform and supply even higher worth to our clients and companions.”
“The criticality of Avalara’s software program platform mixed with its dedication to drive innovation and serve its in depth associate community offers a powerful basis for progress,” added Monti Saroya, Co-Head of the Vista Flagship Fund and Senior Managing Director. “We sit up for working with Scott and the Avalara group and welcome them to the Vista portfolio and ecosystem as they proceed to execute on their imaginative and prescient to automate world compliance.”
With the completion of the transaction, Avalara shares have ceased buying and selling and are now not listed on the New York Inventory Alternate.
Goldman Sachs & Co. LLC served as unique monetary advisor to Avalara, and Simpson Thacher & Bartlett LLP and Perkins Coie LLP acted as authorized counsel.
BofA Securities served as monetary advisor to Vista and Kirkland & Ellis LLP acted as authorized counsel.
