Avalara, Inc., a Bainbridge Island, WA-based provider of cloud-based software delivering compliance solutions related to VAT, sales tax, excise tax, and other transactional taxes, acquired VAT Applications NV, a Belgium-based developer of the iVAT suite of VAT compliance software and services for businesses of all sizes.
The amount of the deal was not disclosed.
Led by Prof. Patrick Wille, founder and CEO, iVAT offers a comprehensive array of VAT determination and compliance solutions, including a cloud-based tax determination and invoice preparation solution and an automated VAT compliance service for filing returns in all EU countries in the required formats and appropriate languages. Customers range from small and medium enterprises to some of the largest firms in Europe.
The acquisition will allow Avalara to expand its global reach and accelerate its ability to provide VAT content to support merchants in Europe and worldwide. iVAT solutions will soon be featured on Avalara’s online service called VATLive.com, a global resource for timely tax news, insight, and accurate VAT rates acquired by Avalara in 2014. VATLive.com is a free online resource that allows multi-national businesses to understand the complexities of cross-border trading and includes country-specific guides on ever-changing tax rates, returns, registrations, and filings from across the world.
Led by Scott McFarlane, founder and CEO, Avalara provides businesses of all sizes with solutions to achieve compliance with sales tax, excise tax, VAT, and other transactional tax requirements. Its suite is designed to effectively manage complicated and burdensome tax compliance obligations imposed by state, local, and other taxing authorities in the United States and internationally.
The company offers hundreds of pre-built connectors into accounting, ERP (eg. SAP, JD Edwards and Oracle), ecommerce and other business applications and processes millions of tax transactions for customers and free users every day, files hundreds of thousands of transactional tax returns per year, and manages millions of exemption certificates and other compliance related documents.
Avalara is backed by Sageview Capital, Battery Ventures, Warburg Pincus, Technology Crossover Ventures, Arthur Ventures, and other institutional and individual investors.
It employs more than 900 people at its headquarters on Bainbridge Island, WA and in offices across the U.S., in Brighton, UK, Grimbergen, Belgium, and Pune, India.