Avalara’s acquisition by Vista Equity Partners closed on October 19, 2022. Eligible shareholders were entitled to receive $93.50 in cash per share, and Avalara’s common stock stopped trading on the New York Stock Exchange. The deal is complete; it is not a pending acquisition.
When did Vista complete the Avalara acquisition?
The merger closed on October 19, 2022, according to Avalara’s Form 8-K filed with the U.S. Securities and Exchange Commission and the company’s completion announcement. Vista had announced the definitive agreement on August 8, 2022.
What did shareholders receive?
Under the merger terms, each eligible outstanding share of Avalara common stock converted into the right to receive $93.50 in cash, subject to applicable withholding and specified exceptions. The terms are described in the SEC filing.
How should the $8.4 billion deal value be understood?
The figures describe different measures. Avalara’s SEC filing reported approximately $8.4 billion in consideration payable to equityholders in connection with the merger. Vista’s August 8, 2022 announcement described the proposed transaction as an $8.4 billion all-cash deal inclusive of Avalara’s net debt. Vista also said its proposed $93.50-per-share price represented a 27% premium over Avalara’s closing share price on July 6, 2022; that was Vista’s comparison for the proposed price, not a comparison with the stock price on the closing date.
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Does Avalara still trade on the NYSE?
No. Avalara’s common stock ceased trading on the NYSE before the market opened on October 19, 2022, and the company requested that the exchange delist the shares. Avalara’s announcement confirmed the shares were no longer listed.
What changed about Avalara’s ownership?
The merger subsidiary formed by affiliates of Vista-advised funds merged into Avalara. Avalara survived the merger as a wholly owned subsidiary of the acquisition parent, as set out in the SEC filing. Going private ended Avalara’s public stock listing; it did not mean the company ceased operating.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What does Avalara do?
Avalara provides cloud-based compliance software for transaction taxes, including sales and use taxes, VAT, GST, excise, communications, and lodging taxes. Its services integrate with ERP, accounting, ecommerce, and financial-management providers, according to the company’s closing announcement.
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