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Investing.com -- Avalara (NYSE:AVLR), operator of a cloud-based software platform that helps companies with tax compliance, has confidentially filed for a U.S. initial public offering, the company announced Monday, as the IPO market shows signs of recovery.
U.S. IPO activity is gaining momentum following a slow start to the year, with investors showing stronger demand for new offerings.
This would mark Avalara’s return to public markets after a brief period as a private company. The firm initially went public in June 2018 but was taken private in 2022 when private equity firm Vista Equity Partners acquired it in a deal valuing the company at $8.4 billion, including debt.
The company did not disclose the terms of its planned offering.
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