Avalara, a leading provider of tax compliance automation software for businesses of all sizes, announced that it has acquired the operational assets of Business Licenses, LLC, a company that provides software and services for the research, acquisition, and management of business licenses, registrations, and permits for businesses of all sizes. The transaction is valued at approximately $97 million in cash and stock.
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“Our team has focused on helping companies navigate the critical licensing and registration component of compliance for more than 15 years. We are proud to join forces with a pioneer in the global compliance space to advance our shared vision of reducing compliance complexity through automation.”
Acquiring the assets of Business Licenses represents a milestone for Avalara, as the company expands its platform to include a complementary compliance solution beyond tax. All of Avalara’s customers are required to obtain and maintain sales tax registrations in the jurisdictions where they have tax nexus, and building upon the existing partnership with Business Licenses, Avalara will now be able to support additional licensing requirements. Adding licensing allows Avalara to better help businesses of every size manage and reduce regulatory complexity.
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Nearly every business must obtain some type of license, permit, or tax registration and keep it current. Like tax compliance, licensing requirements can create meaningful complexity as the regulations for licensing and registrations vary by jurisdiction and industry. Business activities such as opening or closing locations, moving locations, changing names, changing ownership, or launching products can all trigger the need for licensing or registration. The acquisition and ongoing maintenance of these licenses is daunting and can be a challenge for businesses of any size. Business Licenses has amassed an expansive database of licensing and registration content and deployed it through automated software and outsourcing services to help U.S. businesses start up and grow.
