Aug 8 (Reuters) – Avalara Inc said on Monday it had agreed to be acquired by private equity firm Vista Equity Partners in a deal that values the automation software platform at $8.4 billion including debt.
The offer of $93.50 per share is at a 27% premium to stock’s close on July 6, before media reports on the deal. However, it is at a 2% discount to stock’s Friday closing price.
Shares in Avalara, which runs a cloud-based platform that helps companies with tax compliance, were down more than 4% in premarket trading.
Founded in 2004, Seattle-based Avalara counts Pinterest (PINS.N), Zillow Group (ZG.O) and Roku Inc among its customers.
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Reporting by Niket Nishant and Eva Mathews in Bengaluru; Editing by Shounak Dasgupta
Our Standards: The Thomson Reuters Trust Principles.
