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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
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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.