M&A Deal Summary

AvidXchange Acquires BankTEL Systems

On August 27, 2019, AvidXchange acquired software company BankTEL Systems

Acquisition Highlights
  • This is AvidXchange’s 3rd transaction in the Software sector.
  • This is AvidXchange’s 3rd transaction in the United States.
  • This is AvidXchange’s 1st transaction in Mississippi.

M&A Deal Summary
Date 2019-08-27
Target BankTEL Systems
Sector Software
Buyer(s) AvidXchange
Deal Type Add-on Acquisition

Target

BankTEL Systems

Columbus, Mississippi, United States
BankTEL Systems LLC is a provider of accounting solutions software that maintains transparency, accountability, and regulatory compliance. BankTEL Systems is based in Columbus, Mississippi.

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Buyer(S) 1

Buyer

AvidXchange

Charlotte, North Carolina, United States
Category Company
Founded 2000
Sector Internet Software and Services
Employees1,600
Revenue 381M USD (2023)
DESCRIPTION

AvidXchange is a SaaS-based provider of accounts payable management solutions for mid-sized companies in the real estate, banking, and healthcare industries. The company's product suite integrates with a customer's existing accounting systems to centralize and streamline accounts payable workflow. AvidXchange was formed in 2000 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 3 of 4
Sector (Software) 3 of 4
Type (Add-on Acquisition) 3 of 4
State (Mississippi) 1 of 1
Country (United States) 3 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-11 AvidXchange - Check Supply Business

Charlotte, North Carolina, United States

AvidXchange - Check Supply Business is a provider of accounts payable and payment automation solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Core Associates

Jupiter, Florida, United States

Core Associates LLC is an AP approval processing and content management software for Sage 300 CRE users. The Core Associates product portfolio includes hosted, mobile, and cloud-based applications serving more than 30,000 users, worldwide. Core Associates was founded in 2008 and is based in Jupiter, Florida.

Buy -
Mergr

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