Tax software company Avalara acquired property tax compliance software developer CrowdReason, as well as a related property valuation and advisory services business, to help firms solve property tax compliance challenges.
The acquisitions boost Avalara’s document management, tax content, and property tax returns offerings.
“Adding property tax content and software to our global compliance portfolio extends Avalara’s footprint into a large and exciting new tax type. This transaction will increase the opportunity we have to support businesses with more of their compliance requirements,” said Jayme Fishman, executive vice president of corporate development at Avalara.
“Effective management of personal property and real property tax serves businesses of all sizes, especially enterprise companies, and is another step forward in our pursuit to be the global compliance platform for businesses.”
The financial terms of the deal were not disclosed. Avalara acquired the assets of CrowdReason and the assets of a valuation advisory services business from CorrelationAdvisors as part of the deal.
“CrowdReason built its business to help enterprise teams manage complexity and reduce the risk inherent to property tax management,” said Carl Hoemke, CEO of CrowdReason. “We pride ourselves on best-in-class products, accuracy, and customer service, and we are excited to contribute our expertise to Avalara’s customers.”
Avalara has made several acquisitions recently. Earlier this month, Avalara acquired Track1099, which automates the managing, filing, and delivery of IRS forms, including 1099s and W-9s. The company also acquired Davo Technologies and Inposia in April and Impendulo in December, all for undisclosed amounts.
Avalara got its start automating sales tax compliance for corporations. Founded in 2004, it went public in 2018.