TPG, Corpay to buy AvidXchange for $2.2 billion

Reuters

05/07

TPG, <a href="https://laohu8.com/S/CPAY">Corpay</a> to buy AvidXchange for $2.2 billion

May 6 (Reuters) - Global alternative asset manager TPG TPG.O will partner Corpay to buy payments solution firm AvidXchange AVDX.O for $2.2 billion in an all-cash deal, the companies said on Tuesday.

The announcement sent AvidXchange's shares soaring about 20% in extended trading.

(Reporting by Kritika Lamba in Bengaluru; Editing by Leroy Leo)

((Kritika.Lamba@thomsonreuters.com;))

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