AVDX News & Events

AvidXchange 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 announced an exclusive partnership with Ministry Brands. Together, the two companies will offer churches and nonprofits a more efficient, secure way to manage and pay their bills, freeing up time and resources for ministry. AvidXchange's automation technology will integrate seamlessly into Ministry Brands' suite of financial and digital tools to simplify payment processes for their network of over 90,000 churches and nonprofit organizations. This collaboration offers a faster, more efficient way to manage payments, allowing shared customers to save time and shift more focus to mission-driven priorities. With real-time tracking, church staff, volunteers, and other community leaders gain greater visibility and reliability across the entire payment lifecycle.

Reports Q2 revenue $110.6M, consensus $110.6M. As disclosed previously, due to its pending acquisition by TPG in partnership with Corpay, AvidXchange has suspended its previously issued financial outlook for fiscal 2025 and will not hold a teleconference to discuss its second quarter 2025 financial results.