Tax and compliance software provider Avalara, now backed by private equity firm Vista Equity Partners, has acquired various Oracle application connector technology from AppKnit. Financial terms of the deal were not disclosed.
Vista Equity Partners, around the same time of the Avalara-AppKnit deal, acquired Avalara in October 2022 for $8.4 billion.
These are technology M&A deals number 971 and 972 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Automated Oracle Tax Compliance Connections
Avalara, based in Seattle, Washington, was founded in 2004. The company has 4,172 employees listed on LinkedIn. Avalara develops tax- and compliance-related software that integrates with ERP, accounting, e-commerce and financial management systems. The company's partner ecosystem spans 1,200 organizations -- including software developers, accountants and certified implementation partners.
AppKnit, based in Pleasanton, California, develops connector technology for Oracle Fusion Cloud ERP, E-Business Suite, JD Edwards and PeopleSoft applications.
In a prepared statement about the deal, AppKnit Co-Founder Raghu Yelluru said:
“We’re excited to see the expansion of Avalara-owned connectors. Avalara’s innovative Oracle connector technology is intuitive and scalable, making Oracle and Avalara customers’ lives easier. This is the next evolution in our efforts to marry best-in-breed technology and Oracle expertise.”
Yelluru now shifts to senior director of enterprise solutions at Avalara.
Vista Equity Partners: MSP Software Experience
Avalara owner Vista Equity Partners is well-known in the MSP software market. The private equity firm sold Datto to Kaseya in mid-2022. Additional Vista Equity investments include SaaS application management provider BetterCloud and PSA software provider BigTime.