Avalara Inc., tax compliance software provider for businesses, has announced that it has agreed to be acquired by Vista Equity Partners in an USD 8.4 billion deal.
The announcement was made about a month after the initial transaction reports surfaced. The USD 8.4 billion offer from Vista Equity Partners works out to USD 93.50 per Avalara share, a 27 percent premium over the stock’s most recent closing price prior to acquisition reports.
By the end of the year, the deal should be finalized. Avalara offers a cloud-based tax compliance platform that streamlines calculations and automates tasks like adding sales tax to in-store purchases.