DJIA52215.16 -652.82
S&P 5007623.68 -39.75
NASDAQ25955.34 -53.52
Russell 20002775.90 -8.13
German DAX25181.65 -190.10
FTSE 10010690.36 -34.67
CAC 407782.82 -28.44
EuroStoxx 506065.15 -20.80
Nikkei 22562693.16 -214.68
Hang Seng23093.37 158.69
Shanghai Comp3690.48 32.45
KOSPI5550.30 16.53
Bloomberg Comm IDX143.69 1.01
WTI Crude-fut116.91 3.95
Brent Crude-fut103.71 4.38
Natural Gas2.63 -0.16
Gasoline-fut3.21 0.04
Gold-fut4010.00 -32.70
Silver-fut53.96 -0.74
Platinum-fut1555.80 -17.30
Palladium-fut1046.50 -7.00
Copper-fut6.50 0.09
Aluminum-spot3195.00 0.00
Coffee-fut306.00 -5.40
Soybeans-fut1269.50 4.25
Wheat-fut625.00 0.25
Bitcoin81055.04 -189.93
Ethereum USD2382.76 0.59
Litecoin57.58 -1.00
Dogecoin0.08 0.00
EUR/USD1.1203 -0.0020
USD/JPY157.04 -1.07
GBP/USD1.3379 -0.0018
USD/CHF0.8223 -0.0022
USD IDX101.75 0.14
US 10-Yr TR4.994 0.041
GER 10-Yr TR3.349 0.009
UK 10-Yr TR5.365 0.035
JAP 10-Yr TR2.805 -0.08
Fed Funds4 0
SOFR3.9 0.02
Connect News Money news for every market and every facet, every day.
Connect Money Events Live and virtual events bringing together the best of information and networking.
Financial Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Awards View the A-list of money & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for clear, concise news of maximum importance to the financial services industry.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Topics

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.

Connect

Inside The Story

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.
Order Reprints