Avalara, Inc., a leading provider of tax compliance automation for businesses of all sizes, announced the completion of its acquisition by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, in partnership with institutional co-investors, for $93.50 per share in cash.
“As the leading enterprise software investor, Vista knows what it takes to pursue and achieve excellence. We look forward to partnering with their experienced team to advance our mission to become the global cloud compliance platform and provide even greater value to our customers and partners.”
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Today marks an exciting new chapter for Avalara. We thank our employees, customers, partners, and shareholders for their trust during this process, and we are excited to begin our work alongside Vista,” said Scott McFarlane, co-founder and CEO of Avalara. “As the leading enterprise software investor, Vista knows what it takes to pursue and achieve excellence. We look forward to partnering with their experienced team to advance our mission to become the global cloud compliance platform and provide even greater value to our customers and partners.”
“The criticality of Avalara’s software platform combined with its commitment to drive innovation and serve its extensive partner network provides a strong foundation for growth,” added Monti Saroya, Co-Head of the Vista Flagship Fund and Senior Managing Director. “We look forward to working with Scott and the Avalara team and welcome them to the Vista portfolio and ecosystem as they continue to execute on their vision to automate global compliance.”
With the completion of the transaction, Avalara shares have ceased trading and are no longer listed on the New York Stock Exchange.
Goldman Sachs & Co. LLC served as exclusive financial advisor to Avalara, and Simpson Thacher & Bartlett LLP and Perkins Coie LLP acted as legal counsel.
BofA Securities served as financial advisor to Vista and Kirkland & Ellis LLP acted as legal counsel
