Avalara agrees to be taken private by Vista Equity Partners for $8.4 billion in cash

Avalara Inc. , a provider of tax compliance software, said Monday it has agreed to be taken private by Vista Equity Partners in a deal valued at $8.4 billion. Under the terms of the deal, Vista Equity will pay $93.50 per each Avalara share in cash, equal to a premium of 27% over Avalara's closing share price July 6, 2022, the last trading day prior to media reports regarding a potential transaction. Avalara was founded in 2004 and will now looks to expand its platform by refining its go-to-market strategy, expand overseas and continue to seek M&A opportunities. The deal is expected to close in the second half at which point Avalara will no longer trade on the New York Stock Exchange. Shares fell 3.7% premarket and are down 26% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.30% has fallen 13%.

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May 26, 2023 5:20p