July 21, 2024

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Invoice.com to Acquire Commit Administration Company Divvy

1 min read

Invoice.com has entered into a definitive settlement to receive expenditure administration enterprise Divvy in a inventory and funds transaction valued at roughly $2.5 billion.

After closed, the acquire Bill.com will amount to approximately $625 million in cash and $1.875 billion of Invoice.com Common Inventory, subject matter to customary changes for transactions of this mother nature.

Bill.com’s expanded answer, which is utilized by accountants and their enterprise shoppers, will let for automatic administration of accounts payable, accounts receivable and company card shell out all in a single area. The put together organization will properly increase the marketplace prospect for both of those providers.

Monthly bill.com can offer expense management and budgeting computer software mixed with good company playing cards to its additional-than 115,000 client base and its network of 2.5 million associates. Divvy will be ready to offer you automatic payable, receivables, and workflow abilities to the more-than 7,500 regular active SMBs that it serves.

The transaction has been approved by the Boards of Administrators of both of those Divvy and Bill.com. The deal is expected to close by the finish of Bill.com’s to start with fiscal quarter ending September 30, 2021, and is matter to receipt of regulatory approvals and other customary closing circumstances.

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