Avalara (NYSE: AVLR), a Seattle, WA-based provider of tax compliance automation for businesses of all sizes, acquired the operational assets of Davo Technologies LLC, a company that allows small businesses to automate the daily and ongoing requirements for sales tax.
The amount of the deal was not disclosed.
Led by Pete Murray, CEO, Davo provides a technology platform that automatically connects to point of sale (POS) systems to extract the amounts of tax owed, set sales tax funds aside daily, hold the funds, and then file and pay their sales tax for them when they are due to state and local tax authorities. The company provides merchants, restaurants, and sole proprietors with an automated sales tax compliance solution that also ensures available funds for tax obligations to avoid unplanned or underfunded expenses.
Today, Davo serves more than 4,000 small businesses in the United States, including coffee shops, bike stores, flower shops, bakeries, restaurants, and many other types of local businesses.
Integrated within point of sale systems such as Clover, Square, and more, the system extends Avalara’s strategy of integrated sales tax compliance processes.
Acquiring advanced technologies, tax content, and expanded segment expertise has been core to Avalara’s mission and growth strategy since its founding. With the acquisition of assets from DAVO, Avalara furthers its vision of the global cloud compliance platform for businesses of all sizes.
FinSMEs
24/04/2021