AvidXchange completed its acquisition by TPG and Corpay for $10 per share, valued at $2.2 billion.
Quiver AI Summary
AvidXchange Holdings, Inc. has announced that it has been acquired by TPG and Corpay for $10.00 per share, resulting in the company being valued at approximately $2.2 billion. This acquisition, finalized on October 15, 2025, after receiving shareholder and regulatory approvals, transitions AvidXchange to a private company. CEO Mike Praeger expressed enthusiasm for the company's future growth and innovation with the backing of TPG and Corpay. TPG secured a majority stake while Corpay acquired a minority interest, with both firms planning to leverage their resources to enhance AvidXchange's capabilities in accounts payable automation. As a consequence of this acquisition, AvidXchange shares have ceased trading on the Nasdaq.
Potential Positives
- AvidXchange has successfully transitioned to a private company with a valuation of approximately $2.2 billion, allowing for more strategic flexibility and focus on long-term goals.
- The acquisition by TPG and Corpay is expected to provide significant resources and support, enabling AvidXchange to accelerate innovation and expand its payment solutions.
- The endorsement from TPG and Corpay's leadership highlights confidence in AvidXchange's potential for higher growth and profitability in the future.
Potential Negatives
- The acquisition of AvidXchange has resulted in its shares ceasing to trade and the company no longer being publicly listed, which may limit access to capital markets and reduce transparency for stakeholders.
- As AvidXchange transitions to a private company, there may be concerns regarding governance and oversight compared to when it was publicly traded, potentially affecting investor confidence.
- The acquisition price of $10.00 per share may suggest that the company was undervalued or underperforming, raising questions about its financial health prior to the acquisition.
FAQ
What is the recent acquisition involving AvidXchange?
TPG and Corpay have acquired AvidXchange for $10.00 per share, valuing the company at approximately $2.2 billion.
When was the acquisition of AvidXchange completed?
The acquisition was completed on October 15, 2025, after receiving shareholder and regulatory approvals.
What does AvidXchange specialize in?
AvidXchange is a leading provider of accounts payable automation software and payment solutions for middle market businesses.
How will the acquisition benefit AvidXchange?
The acquisition allows AvidXchange to enhance innovation and solutions while providing resources for further growth as a private company.
What was the stock market impact of the acquisition?
As a result of the acquisition, AvidXchange shares have ceased trading and the company is no longer publicly listed on Nasdaq.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AVDX Insider Trading Activity
$AVDX insiders have traded $AVDX stock on the open market 19 times in the past 6 months. Of those trades, 0 have been purchases and 19 have been sales.
Here’s a breakdown of recent trading of $AVDX stock by insiders over the last 6 months:
- TODD ALAN CUNNINGHAM (See Remarks) has made 0 purchases and 4 sales selling 69,449 shares for an estimated $679,569.
- MICHAEL PRAEGER (Chief Executive Officer) has made 0 purchases and 3 sales selling 40,005 shares for an estimated $389,504.
- DANIEL DREES (President) has made 0 purchases and 3 sales selling 25,972 shares for an estimated $252,873.
- JOEL WILHITE (See Remarks) has made 0 purchases and 3 sales selling 20,914 shares for an estimated $203,627.
- ANGELIC GIBSON (See Remarks) has made 0 purchases and 3 sales selling 10,921 shares for an estimated $106,331.
- RYAN STAHL (See Remarks) has made 0 purchases and 3 sales selling 8,999 shares for an estimated $87,617.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$AVDX Hedge Fund Activity
We have seen 129 institutional investors add shares of $AVDX stock to their portfolio, and 117 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC removed 19,081,065 shares (-98.6%) from their portfolio in Q2 2025, for an estimated $186,803,626
- GREENHOUSE FUNDS LLLP removed 10,675,410 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $104,512,263
- NORTH REEF CAPITAL MANAGEMENT LP removed 8,675,000 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $84,928,250
- MAGNETAR FINANCIAL LLC added 8,447,908 shares (+inf%) to their portfolio in Q2 2025, for an estimated $82,705,019
- FIL LTD added 8,257,839 shares (+inf%) to their portfolio in Q2 2025, for an estimated $80,844,243
- GLAZER CAPITAL, LLC added 5,125,000 shares (+inf%) to their portfolio in Q2 2025, for an estimated $50,173,749
- NEXPOINT ASSET MANAGEMENT, L.P. added 5,084,553 shares (+inf%) to their portfolio in Q2 2025, for an estimated $49,777,773
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$AVDX Price Targets
Multiple analysts have issued price targets for $AVDX recently. We have seen 5 analysts offer price targets for $AVDX in the last 6 months, with a median target of $10.0.
Here are some recent targets:
- Timothy Chiodo from UBS set a target price of $10.0 on 05/08/2025
- James Faucette from Morgan Stanley set a target price of $10.0 on 05/08/2025
- Andrew Bauch from Wells Fargo set a target price of $10.0 on 05/08/2025
- David Koning from Baird set a target price of $10.0 on 05/08/2025
- Clarke Jeffries from Piper Sandler set a target price of $10.0 on 05/08/2025
Full Release
CHARLOTTE, N.C., Oct. 15, 2025 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (“AvidXchange” or the “Company”) (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions, today announced that TPG and Corpay have completed their previously announced acquisition of the Company for $10.00 per share. The acquisition established AvidXchange as a private company valued at approximately $2.2 billion.
“We are truly excited to chart the next chapter in AvidXchange’s growth trajectory with the support of TPG and Corpay. As a private company, we look forward to building upon our 25+ years of industry leadership by accelerating innovation, delivering new and enhanced solutions to our customers, and creating further opportunities for our team,” said Mike Praeger, CEO of AvidXchange. “TPG and Corpay’s partnership will provide the necessary resources and long-term vision to help us scale our platform, capitalize on our momentum, and expand our ability to transform the AP process for our customers nationwide.”
“AvidXchange has long been at the forefront of AP automation, continuously innovating to streamline complex corporate payment workflows,” said John Flynn, Partner at TPG. “We’re excited to join forces with Corpay to partner with Michael and the AvidXchange team to accelerate growth and unlock its long-term potential as a private company,” added Tim Millikin, Partner at TPG.
“We’re thrilled to be in the game with Mike and his management team, and we see a path to a much higher growth and more profitable company over the midterm,” said Ron Clarke, Chairman and CEO of Corpay.
In the transaction, TPG acquired a majority interest in AvidXchange through TPG Capital, the firm’s large-scale U.S. and European private equity platform, and Corpay acquired a minority interest in the Company. The transaction was announced on May 6, 2025, approved by AvidXchange shareholders on September 16, 2025, and closed on October 15, 2025, following the satisfaction of required regulatory approvals and other customary closing conditions.
As a result of the closing of the transaction, AvidXchange shares have ceased trading and AvidXchange is no longer publicly listed on the Nasdaq Global Select Market.
Advisors
Financial Technology Partners and Barclays acted as financial advisors to AvidXchange. Latham & Watkins LLP acted as the Company’s legal advisor.
J.P. Morgan Securities LLC, Moelis & Company and RBC Capital Markets acted as financial advisors to TPG, and Davis Polk & Wardwell LLP and Schulte Roth & Zabel LLP acted as legal counsel to TPG.
Goldman Sachs acted as financial advisor to Corpay, and Eversheds Sutherland acted as legal counsel to Corpay.
About AvidXchange™
AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s software-as-a-service-based, end-to-end software and payment platform digitizes and automates the AP workflows for more than 8,500 businesses and it has made payments to more than 1,350,000 supplier customers of its buyers over the past five years. To learn more about how AvidXchange is transforming the way companies pay their bills, visit
www.AvidXchange.com
.
About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
About Corpay
Corpay (NYSE: CPAY), the Corporate Payments Company, is a global S&P 500 provider of commercial cards (e.g, business cards, fleet cards, virtual cards) and AP automation solutions (e.g., invoice and payments automation, cross border payments) to businesses worldwide. Our solutions “keep business moving” and result in our customers better controlling purchases, mitigating fraud, and ultimately spending less. To learn more, visit www.corpay.com.
Contacts:
TPG
Courtney Power
[email protected]
Corpay
Investor Contact:
Jim Eglseder
[email protected]
770.417.4697
AvidXchange
Investor Contact:
Subhaash Kumar
[email protected]
813.760.2309
This press release was published by a CLEAR® Verified individual.
