to acquire Divvy through a $2.5B worth cash and stock deal
SaaS News$2.5B(source: SaaS Industry)
At a Glance

California-based finance software provider LLC has recently entered a definitive agreement- a $2.5 billion deal to acquire Divvy. Subject to regulatory approval and satisfaction of customary closing conditions, the deal is expected to close by the end of’s first fiscal quarter, which ends on September 30 this year.

The deal involves a combination of cash and stock- $625 million in cash and $1.875 billion worth of common stock. 

What’s in it for Bill? provides companies with a platform to manage supplier payments and to send invoices to their customers. Targeting small to medium-sized businesses (SMB) largely, their client base crosses over 115,000. Utah-based startup Divvy, on the other hand, sells a cloud-service platform to reduce the hassle of expense reports and the overwhelming manual tasks revolving around it.

Through the acquisition, shall extend its platform with leading spend management capabilities, market opportunity and provide a high growth recurring revenue model. To sum up, the rationale behind the acquisition is to enable businesses to make their financial operations more centralized. Empowered by Divvy’s technology, businesses shall be able to manage corporate credit cards in the same place. 

Customers will be able to manage and have real-time insight into all their B2B spend,” CEO René Lacerte stated.

The acquisition is more than four times the total amount raised by Divvy to date as per data. also highlighted an opportunity to sell the Divvy service to over 115,000 existing customers, and at the same time, promote their own corporate finance platform to their 7000-plus clients. 

Commenting on the acquisition, Blake Murray, Founder and CEO of Divvy, states how the acquisition shall bring to customers a “one-stop-shop” solution which they have been demanding for a long time. Stating that those supporting the SMBs were his idols, Blake added,

Once the transaction closes, these two businesses will allow you to have a single solution for all your payment needs. No more wasting time on manual work. No more staying late at the office to close the books. No more waiting for a tool that does everything you need

Blake Murray, Founder and CEO of Divvy
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