US EditionTPG teams with Corpay to buy AvidXchange for $2.2B
- TPG and Corpay announced a definitive agreement to acquire AvidXchange for $2.2 billion, expected to close in Q4 2025 in the US.
- The deal follows AvidXchange's growth in accounts payable automation and requires regulatory and shareholder approvals prior to closing.
- Corpay will acquire a 33% minority stake for $500 million, while TPG assumes majority control, with both highlighting synergies in payment technology.
- AvidXchange processed over 79 million transactions and earned $425 million in 2024, with TPG partner John Flynn noting a "very large opportunity" in AP automation.
- Upon completion, AvidXchange will become private, gaining flexibility for growth and innovation while the transaction offers potential joint expansion under new ownership.
13 Articles
13 Articles
TPG teams with Corpay to buy AvidXchange for $2.2B
TPG, which has around $246 billion in assets under management, just announced its last 10-figure deal. The investment firm is teaming up with a publicly traded fintech to buy AvidXchange, a North Carolina-based businesses that specializes in payment processing for midsize businesses.
NC-based AvidXchange to be acquired for $2.2 billion
CHARLOTTE, N.C. (QUEEN CITY NEWS) -- AvidXchange announced Tuesday that the Charlotte-based payments solutions provider is being acquired in a $2.2 billion deal. The namesake of the Music Factory says in a release it has entered into a definitive agreement to be acquired by TPG, a global alternative asset management firm, in partnership with Corpay, a global leader in corporate payments. TPG and Corpay will acquire AvidXchange for $10 per share…
Charlotte's AvidXchange to be acquired for $2.2 billion
CHARLOTTE, N.C. (QUEEN CITY NEWS) -- AvidXchange announced Tuesday that the Charlotte-based payments solutions provider is being acquired in a $2.2 billion deal. The namesake of the Music Factory says in a release it has entered into a definitive agreement to be acquired by TPG, a global alternative asset management firm, in partnership with Corpay, a global leader in corporate payments. TPG and Corpay will acquire AvidXchange for $10 per share…
TPG, Corpay to buy AvidXchange for $2.2 billion
Global alternative asset manager TPG will partner with Corpay to buy payments solutions provider AvidXchange for $2.2 billion in an all-cash deal, the companies said on Tuesday.The deal, which helps the two payments firms scale up operations, sent AvidXchange's shares soaring about 20 per cent in extended tr
Deal Roundup: ADIA buys into Thoma Bravo's Qlik, TPG agrees $2.2bn AvidXchange take-private alongside Corpay
The Abu Dhabi Investment Authority has closed a minority stake buy in Thoma Bravo portfolio business Qlik, which provides data integration, data quality, analytics and AI. The post Deal Roundup: ADIA buys into Thoma Bravo’s Qlik, TPG agrees $2.2bn AvidXchange take-private alongside Corpay appeared first on AltAssets Private Equity News.
Coverage Details
Bias Distribution
- 100% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
