AVLR - Vista Equity agrees to buy Avalara for $8.4B
- Private equity firm Vista Equity agreed to buy tax software provider Avalara ( NYSE: AVLR ) for $8.4 billion including debt.
- Vista Equity agreed to pay $93.50/share in all cash-transaction, according to a statement. The deal represents a 27% premium to Avalara's closing price on July 6, the last trading prior to media reports about a potential transaction.
- The deal is expected to close in the second half of the year and closing of the transaction is not subject to a financing condition.
- Avalara ( AVLR ) jumped 16% on July 7 after a StreetInsider report that the tax software provider is said to had been approached about a takeover from Vista Equity.
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Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Avalara, and Simpson Thacher & Bartlett LLP and Perkins Coie LLP are acting as legal counsel. Kirkland & Ellis LLP is acting as legal counsel for Vista.
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A BMO analyst last month said that Avalara ( AVLR ) was likely on many "short lists" as a possible acquisition target.
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Vista Equity agrees to buy Avalara for $8.4B