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.
Estimated reading time: 0 minutes, 45 seconds
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.
Most Read
-
-
May 22 2017
-
Written by mark
-
-
-
May 22 2017
-
Written by BobWScott
-
-
-
May 19 2021
-
Written by BobWScott
-
-
-
May 25 2016
-
Written by mark
-