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AVALARA ISSUED STOCK IN MATRIX DEAL

Avalara logoAvalara has issued $425,355 in stock that was used in an asset purchase deal, according to a recent SEC filing. SEC filings on the issuance of stock in private companies are thin in detail. However,  CEO Scott McFarlane confirmed this was part of the consideration used in the recent purchase of the UPC Matrix Master database from Tax Matrix by Bainbridge Island, Wash.-based Avalara

The purchase price also included cash, but Avalara is not disclosing the amount. The Matrix Master database provides taxability content and tax rates behind 10 million UPC codes and the sales-and-use tax software publisher says its purchase was part of its move to become known as a content provider, not just as a technology company. Matrix Master is purchased via subscription by several large retailers while Avalara is integrating the database in its product line for use by smaller organizations.

 

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