Corpay (CPAY) announced that it has signed a definitive agreement to make a minority investment in AvidXchange Holdings (AVDX) as part of a transaction to take AvidXchange private alongside TPG for $10.00 per share in a cash transaction that values AvidXchange at $2.2B. Under the agreement, Corpay will invest approximately $500M for a 33% equity stake in the company. The transaction is expected to close in the fourth quarter of 2025, subject to shareholder and regulatory approval and standard closing conditions. AvidXchange is a provider of accounts payable automation solutions to lower middle market companies with a focus on several verticals including real estate, HOA, financial institutions and media. “We expect the transaction to be accretive to Corpay earnings in 2026, and the take-private transaction structure gives the company the flexibility to transform and accelerate profit growth. We have the option to buy the rest of the company in 2028.”
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