Tax compliance automation provider Avalara has announced its acquisition of the operational assets of Davo Technologies for an undisclosed sum.
Working with over 4,000 small businesses across the US, Davo offers merchants, restaurants, and sole proprietors an automated sales tax compliance solution to ensure available funds for tax obligations.
The deal represents an extension to Avalara’s integrated sales tax compliance strategy, which intends to let businesses focus on their core operations.
Jayme Fisherman, EVP of corporate development at Avalara, said: “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.”
Through the acquisition, Avalara looks to benefit from Davo’s technology that automatically connects to point-of-sale (POS) systems, so as to extract tax data.
Pete Murray, CEO at Davo, said that the transaction will create “an amazing opportunity” for the group’s team and customers.
He added that together with Avalara, the group can support firms so that “they can focus on their business and leave the sales tax to us”.