Welcome to our dedicated page for Avalara news (Ticker: AVLR), a resource for investors and traders seeking the latest updates and insights on Avalara stock.
This page provides a news archive for Avalara, Inc. (historically NYSE: AVLR), a software company that focuses on cloud-based tax compliance automation for businesses. Company communications describe Avalara as helping businesses of all sizes get tax compliance right, working with leading ERP, accounting, ecommerce, and other financial management system providers to deliver automated compliance for transaction taxes such as sales and use tax, VAT, GST, excise, communications, lodging, and other indirect tax types.
The news flow around Avalara has included corporate transaction updates related to its agreement to be acquired by affiliates of Vista Equity Partners, shareholder communications about the proposed sale, and the outcome of the shareholder vote approving the transaction. These items document the process through which Avalara moved from being a publicly traded company under the AVLR ticker on the New York Stock Exchange to becoming a private company, with its shares no longer trading on that exchange.
In addition to transaction-related coverage, Avalara’s news has highlighted product and partnership developments, such as newly certified integrations into accounting, ERP, ecommerce, point-of-sale, mobile commerce, and CRM applications, and a partnership with Xero to bring sales tax automation workflows into the Xero platform. These announcements illustrate Avalara’s partner-centric strategy and its focus on embedding automated tax calculation and compliance into a wide range of business applications.
Investors and researchers can use this news archive to review historical developments affecting Avalara’s business model, partner ecosystem, and ownership structure during the period when AVLR was a public listing. For ongoing information about Avalara as a private company, users should note that AVLR functions as a historical symbol and that more recent updates may be communicated outside of public equity market channels.
Avalara has announced a definitive agreement to acquire INPOSIA Solutions GmbH, a German software firm specializing in e-invoicing and digital tax reporting. This move aims to enhance Avalara's capabilities in meeting global real-time compliance requirements as governments adopt quicker data exchange for tax collection. The financial terms remain undisclosed, and the deal is expected to close in the first half of 2021. The acquisition aligns with Avalara's growth strategy, previously bolstered by acquisitions like TTR and Impendulo, further solidifying its position as a leading provider in compliance automation.
Avalara (NYSE: AVLR) has acquired Impendulo Limited, a London-based insurance tax compliance solutions provider. While financial terms remain undisclosed, this acquisition allows Avalara to tap into the global insurance compliance market, which can leverage its automation technology. Impendulo specializes in managing the insurance tax compliance process for multinational companies. This strategic move continues Avalara's mission to enhance its compliance automation services and expand its market reach, aligning with their growth strategy of acquiring leaders in tax compliance verticals.
Avalara (NYSE:AVLR) has announced its first virtual conference, Avalara NEXT, aimed at developers involved in global tax compliance. Scheduled for January 27, 2021, the event will showcase Avalara's new products, APIs, and tools that facilitate tax compliance integration into applications. Attendees will engage in live coding sessions and hear from technical leaders to enhance their understanding of tax technology. The focus on expanding tax obligations highlights Avalara's commitment to supporting businesses in navigating complex compliance landscapes.
Avalara (NYSE: AVLR) has acquired the operational assets of Business Licenses, LLC for approximately $97 million in cash and stock. This acquisition expands Avalara's compliance solutions beyond tax, allowing businesses to manage licensing requirements more efficiently. The deal enhances Avalara's platform with a subscription-based SaaS management solution for enterprises and an extensive database of over 30,000 unique licenses. This strategic move aims to simplify the complex landscape of licensing and registrations for businesses, aligning with Avalara's mission to streamline tax compliance.
Avalara has acquired Transaction Tax Resources (TTR) for approximately $377 million in cash. This acquisition aims to strengthen Avalara's tax compliance automation offerings, particularly for enterprise businesses. TTR brings over 1,400 customers, including significant Fortune 500 clients, enhancing Avalara's reach and capabilities. The synergy aims to improve tax content and create industry-leading solutions, including a robust compliance content library and subscription services. TTR is expected to generate approximately $20 million in GAAP revenue for 2020.
Avalara, Inc. (NYSE: AVLR) announced its financial results for the third quarter ending September 30, 2020, will be reported on November 5, 2020, after market close. A conference call will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results and business highlights. Avalara specializes in tax compliance automation, offering cloud-based solutions for various transaction taxes, including sales and use tax, VAT, and GST. The company serves businesses of all sizes globally.