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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.
