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Highlights

  • AvidXchange to be acquired for $10.00 per share, valuing the company at $2.2 billion
  • Transaction represents a 22% premium over the company’s closing price on May 6, 2025
  • Acquisition aims to fuel long-term growth and enhance accounts payable automation solutions

AvidXchange Holdings, Inc. (NASDAQ: AVDX), a provider of accounts payable (AP) automation software, has entered into an agreement to be acquired by TPG (NASDAQ: TPG) and Corpay in a cash transaction valued at $2.2 billion. The deal will see TPG acquire a majority stake in the company, while Corpay will take a minority interest. The purchase price of $10.00 per share represents a 22% premium over AvidXchange’s closing price on May 6, 2025.

Upon the transaction’s completion, AvidXchange will become a private company, allowing it more flexibility to continue investing in growth and refining its integrated payment solutions. The acquisition will enable AvidXchange to expand its platform and enhance its accounts payable automation solutions for businesses across various sectors.

AvidXchange’s CEO, Michael Praeger, emphasized the value this deal brings to stockholders while ensuring the company’s long-term growth. He noted that the partnership with TPG and Corpay would provide the necessary resources to scale AvidXchange’s platform and deliver innovative solutions to its customers.

The deal is expected to enhance AvidXchange’s ability to provide businesses with automated, efficient, and secure payment processes. With TPG’s extensive experience in AP automation and Corpay’s established presence in corporate payments, the acquisition is seen as a strategic move to accelerate the company’s growth and improve operational efficiencies for its 8,500+ customers.

The acquisition underscores the increasing demand for advanced payment automation technology as businesses seek to streamline financial operations. With this partnership, AvidXchange will continue to play a significant role in transforming the accounts payable landscape.