Avalara Acquires Operational Assets from DAVO Technologies
Tax automation provider Avalara announced on April 20 that it had bought assets and expertise from DAVO Technologies, a company that helps businesses automate sales tax requirements.
Based in Maine, DAVO uses cutting-edge technology to connect with POS systems and automatically gather tax-related data. This allows it to accurately file and pay sales taxes to the state and local authorities on their clients’ behalf.
DAVO’s base of clients across the US includes more than 4,000 businesses from various industries, including restaurants and coffee shops, bike stores, local flower shops, and many others. The financial terms of the agreement have not been disclosed.
DAVO’s instant integration with the most popular POS systems - like Square, Quickbooks, and Clover to name a few - empowers Avalar to provide all-in-one compliance solutions that help small businesses and startups manage their daily and ongoing tax requirements.
“Avalara and DAVO are natural extensions to one another; our services are complementary, and we believe there is an immediate opportunity for value to their customers and our shared partners. The DAVO team has built an excellent, customer-centric product and we are delighted to partner with them to help improve and expand upon their capabilities,” said Jayme Fishman, Avalara’s EVP of corporate development.
DAVO integrates seamlessly into your business environment to collect data needed for paying sales taxes and filing tax returns. It’s an automated service that simplifies tax-related tasks with the 100% accuracy that only great bookkeeping services can provide. With Avalara’s products - like business licenses and compliance documents - DAVO will be able to provide even better and more comprehensive services.
“This acquisition is an amazing opportunity for the DAVO team, partners, and especially our customers. There has never been a more important time to support the local business community - the backbone to local economic development and community support. We are confident that together with Avalara we can make their day-to-day even easier, so they can focus on their business and leave the sales tax to us,” said Pete Murray, CEO of DAVO.
The company’s press release also includes forward-looking statements regarding the expected “growth opportunities and synergies arising from the acquisition,” as well as potential risks that could lead to different material results than those predicted by the forward-looking statements.
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