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Financial Advisory  + Alternative Assets  + Direct Investment  + Private Equity  + Wealth Management  |  October 31, 2022
Vista Equity Partners, a global investment firm, Completes Deal to Buy Alavara, a tax compliance automation company, for $8.4B
Joe Palmisano
By: Joe Palmisano

Vista Equity Partners Completes Deal to Buy Avalara for $8.4B 

Vista Equity Partners, a global investment firm, has purchased Seattle-based Avalara Inc., a tax compliance automation company, for $93.50 per share in cash. 

With the completion of the $8.4 billion transaction, Avalara shares have stopped trading and are no longer listed on the New York Stock Exchange. 

Avalara has more than 30,000 customers that use its compliance automation software to manage their sales and other types of taxes. Customers include Zillow Group, Pinterest and others. 

The deal is the latest example of private equity firms hungry for public company acquisitions at bargain prices.  

Vista paid $1.9 billion in 2019 to acquire Bellevue, Wash.-based Apptio, another public enterprise software company. It also bought Citrix earlier this year in a deal with Elliott Investment Management for $16.5 billion. 

Goldman Sachs & Co. LLC served as 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.

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AvalaraVista Equity Partners

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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