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Avalara Being Acquired for $8.3 Billion

McFarlane Scott new12 Indirect tax specialist Avalara is being acquired by Vista Equity Partners for $8.3 billion. At $93.50 per share, the all-cash deal is 27-percent higher than the closing share price on August 6.

CEO Scott McFarlane heads Avalara, which he founded in 2004.

At the same time, it reported a loss of $55.8 million second quarter ended June 30, up from a loss of $31 million a year earlier. Revenue for the most recently ended period rose 23 percent to $208.6 million, from $169.1 million a year ago. Subscription revenue of $189.8 million increaed  24 percent from $152.4 million in last year’s corresponding period

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