Institutional Shareholder Services, a proxy advisor firm, has this week recommended shareholders vote for the sale of Avalara to Vista Equity Partners. The vote on the proposed $8.4-billion will be be held at a special Avalara shareholders meeting on October 14.While two investor groups opposehe deal, ISS said the sale price is a premium to the unaffected price [share price before the announcement leaked out] and that there is "significant downside risk of non-approval and the uncertainty surrounding a potential market recovery.” ISS noted the decline in valuations of Avalara’s peer companies and said if the deal is not approved its share could trade in the mid-to-high $60’s per share. The 52-week low for Avalara is $66.39 per share and its high, $188.43 per share. The stock has been trading in the low $90-per-share range following Vista’s bid of $93.5 per share. Without the buyout, it is uncertain how long it would take to get back to the stock’s historic trading levels, ISS and it also noted Avalara’s “modest decline in projections” and its “expected underperformance appears.” In other words, ISS sides with the argument things are likely to worsen before they get better.