Globenewswire·2025-10-15 13:20Core Insights - AvidXchange Holdings, Inc. has been acquired by TPG and Corpay for $10.00 per share, valuing the company at approximately $2.2 billion, transitioning it to a private entity [1][4]. Company Overview - AvidXchange is a leading provider of accounts payable (AP) automation software and payment solutions, serving over 8,500 businesses and facilitating payments to more than 1,350,000 suppliers in the past five years [7]. Acquisition Details - TPG acquired a majority interest in AvidXchange through TPG Capital, while Corpay obtained a minority interest. The acquisition was announced on May 6, 2025, approved by shareholders on September 16, 2025, and closed on October 15, 2025 [4]. - Following the acquisition, AvidXchange shares have ceased trading and the company is no longer listed on the Nasdaq Global Select Market [5]. Future Growth Prospects - The management team, including CEO Mike Praeger, expressed optimism about leveraging TPG and Corpay's resources to accelerate innovation and growth, aiming to enhance solutions for customers and expand the company's market presence [2][3].