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VISTA BUYING AVALARA FOR $8.3B Featured

 Vista Equity Partners is acquiring indirect tax specialist Avalara for $8.3 billion Vista has agreed to pay $93.50 per share in an all-cash deal. The deal, expected to close in the second half of 2022, represents a 27-percent premium over the closing price of shares on July  6.

Founded in 2004, Avalara is headed by CEO Scott McFarlane. The announcement came as Avalara released its financial results for the second quarter ended June 30, reporting a loss of $55.8 million, compared to a loss of $31 million a year earlier. Revenue for the most recently ended period was $208.6 million, an increase of 23 percent from $169.1 a year ago. Subscription revenue of $189.8 million, rising 24 percent from $152.4 million in last year’s corresponding period. Concurrent with the release of earnings, the company said it will not hold a conference call and will not participate as previously planned in the Canaccord Genuity Growth Conference and the Goldman Sachs Communacopia and Technology Conference. 

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