Avalara has bought CrowdReason, which works on developing Software-as-a-Service (SaaS) property tax compliance applications, to help businesses manage that kind of service, Seeking Alpha reported Monday (Oct. 18).
The company has acquired CrowdReason’s technology, content and expertise, and the report says financial terms weren’t revealed.
With the new buy, Avalara will see expanded capacities for things like document management, tax content and property tax returns.
As another part of the deal, Avalara acquired the assets from a valuation advisory services business from CorrelationAdvisors.
“Adding property tax content and software to our global compliance portfolio extends Avalara’s footprint into a large and exciting new tax type,” said Jayme Fishman, EVP of corporate development at Avalara. “This transaction will increase the opportunity we have to support businesses with more of their compliance requirements. 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.”
In other Avalara news, the company also teamed with B2B eCommerce platform Znode in order to boost automated Value Added Tax (VAT) compliance.
Read more: Znode and Avalara Team to Automate VAT Compliance
Greg Chapman, senior vice president of partner management at Avalara, said Znode’s eCommerce platform was good at cutting down on complexity for its customers.
“We understand that digitization of business processes is not an option, it is essential,” he said. “We are proud to offer fast, accurate, and easy tax compliance solutions to our shared customers.”
Meanwhile, Znode president and CEO Rupesh Agrawal said the integration would help Znode’s eCommerce status and “provides our customers with an automated method of handling more B2B and B2C VAT use cases, backed by a leading provider in this space.”
Agrawal said the two companies would now be able to support customers with VAT registration and determination and would be able to manage mandatory VAT returns.
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