Vista Equity agrees to buy Avalara for $8.4B

Private equity firm Vista Equity agreed to buy tax software provider Avalara (NYSE:AVLR) for $8.4 billion including debt.
Vista Equity agreed to pay $93.50/share in all cash-transaction, according to a statement. The deal represents a 27% premium to Avalara's closing price on July 6, the last trading prior to media reports about a potential transaction.
The deal is expected to close in the second half of the year and closing of the transaction is not subject to a financing condition.
Avalara (AVLR) jumped 16% on July 7 after a StreetInsider report that the tax software provider is said to had been approached about a takeover from Vista Equity.
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Avalara, and Simpson Thacher & Bartlett LLP and Perkins Coie LLP are acting as legal counsel. Kirkland & Ellis LLP is acting as legal counsel for Vista.
A BMO analyst last month said that Avalara (AVLR) was likely on many "short lists" as a possible acquisition target.