AvidXchange, a leading accounts payable automation provider, has agreed to be acquired for $2.2 billion by private equity firm TPG and payments company Corpay, with shareholders receiving $10 per share in cash—a 22% premium over its last closing price. The acquisition will take AvidXchange private, enabling it to focus on long-term innovation and scaling its AP and payment solutions platform for over 8,500 middle-market businesses. TPG will hold the majority stake, while Corpay’s minority investment complements its corporate payments business, signaling a strategic alignment to streamline and expand enterprise financial operations.
AvidXchange to be Acquired by TPG in Partnership with Corpay for $2.2 Billion
