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In an all-cash deal expected to close in the second half of 2022, Vista will acquire all outstanding Avalara shares for $93.50 per share. That is below Friday's closing price of $95.55 but represents a 27% premium over its closing share price on July 6 — the day reports of the transaction first emerged.
"For nearly two decades, Avalara has ambitiously pursued its vision to automate global compliance, making tax less taxing for businesses and governments around the world. As a leader in this category, we believe our continued investment in innovation and experience is exciting for our customers, partners, and employees. We are pleased to partner with Vista and will benefit from their expertise in enterprise software as we build and improve upon our cloud compliance platform,” said Scott McFarlane, co-founder and CEO of Avalara.
