AvidXchange Shares Jump 18.5% on $2.2B Buyout Deal from TPG, Corpay

Dow Jones

May 07, 2025

By Paul Ziobro

Shares of AvidXchange soared Wednesday, a day after TPG and Corpay agreed to buy the company in a $2.2 billion deal.

The stock was recently up 18.5% to $9.72, approaching the $10 a share cash offer from the buyers. Shares are down about 19% over the last year.

Late Tuesday, AvidXchange agreed to sell itself, with TPG acquiring a majority stake, while Corpay taking a majority interest in the provider of accounts payable automation software and payment solutions.

The deal is expected to close sometime in the fourth quarter.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

May 07, 2025 11:58 ET (15:58 GMT)

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Shares are down about 19% over the last year. \n\n\n  Late Tuesday, AvidXchange agreed to sell itself, with TPG acquiring a majority stake, while Corpay taking a majority interest in the provider of accounts payable automation software and payment solutions. \n\n\n  The deal is expected to close sometime in the fourth quarter. \n\n\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 07, 2025 11:58 ET (15:58 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}