Avalara Acquires Transaction Tax Resources Inc.

Avalara Inc. has purchased Transaction Tax Resources, Inc. (TTR) for approximately $377 million in cash. TTR, known as the tax answer company, primarily serves enterprise businesses and their internal tax teams, offering U.S. sales and use tax rates, laws, software and customer support required for the biggest and most complex companies.

Oct 6th 2020
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TTR will operate as a subsidiary of Avalara, continuing to serve its customers while integrating key products into Avalara’s automation tools.

The move specifically aims to add TTR’s training and experience serving enterprise businesses to Avalara’s content, product, sales and customer support. TTR also brings Avalara more than 1,400 customers, including blue chip companies that represent more than 30 percent of the Fortune 500, the largest or second largest company in each of 40 industries, 9 of the top 10 healthcare companies, 8 of the top 10 telecommunications companies and 5 of the top 10 IT services firms.

With the addition of TTR, Avalara will also build an enterprise-ready tax automation suite and create solutions in three key areas: Indirect Tax Content, Content Subscriptions and Certificate Management. Avalara estimates that on a standalone full-year basis TTR would produce approximately $20 million in 2020 GAAP revenue and be break-even on GAAP operating income.

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