Vista Equity to take business software maker Avalara private in $8.4 billion deal

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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 per cent premium to stock's close on July 6, before media reports on the deal.

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 per cent premium to stock's close on July 6, before media reports on the deal. However, it is at a 2 per cent 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 per cent in premarket trading.

Founded in 2004, Seattle-based Avalara counts Pinterest, Zillow Group and Roku Inc among its customers.

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