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Vista closes third largest LBO of 2022 with $8.4bn Avalara deal

Vista Equity Partners has completed its acquisition of Avalara Inc, a provider of tax compliance automation for businesses of all sizes, for $93.50 per share in an all-cash deal worth $8.4 billion.

Vista Equity Partners (Vista) has completed its acquisition of Avalara Inc, a provider of tax compliance automation for businesses of all sizes, for $93.50 per share in an all-cash deal worth $8.4 billion.

The acquisition is the third largest LBO of 2022 and follows a series of notable acquisitions and exits by Vista in recent months, including: Citrix ($16.5 billion), which closed in September; the monetisation of Ping Identity after a successful six-year partnership; and the acquisition of acquire KnowBe4 ($4.6 billion).
 
With the completion of the transaction, Avalara shares have ceased trading and are no longer listed on the New York Stock Exchange.

Goldman Sachs & Co LLC served as exclusive financial advisor to Avalara, and Simpson Thacher & Bartlett LLP and Perkins Coie LLP acted as legal counsel.

BofA Securities served as financial advisor to Vista and Kirkland & Ellis LLP acted as legal counsel.

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