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  6. AvidXchange Acquires Core Associates

M&A Deal Summary

AvidXchange Acquires Core Associates

On January 4, 2021, AvidXchange acquired software company Core Associates

Acquisition Highlights
  • This is AvidXchange’s 4th transaction in the Software sector.
  • This is AvidXchange’s 4th transaction in the United States.
  • This is AvidXchange’s 1st transaction in Florida.

M&A Deal Summary
Date 2021-01-04
Target Core Associates
Sector Software
Buyer(s) AvidXchange
Deal Type Add-on Acquisition

Target

Core Associates

Jupiter, Florida, United States
Core Associates 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. Core Associates was founded in 2008 and is based in Jupiter, Florida.

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Buyer(S) 1

Buyer

AvidXchange

Charlotte, North Carolina, United States
Category Company
Founded 2000
Sector Internet Software and Services
Revenue 439M USD (2024)
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 4 of 4
Sector: Software M&A 4 of 4
Type: Add-on Acquisition M&A Deals 4 of 4
State: Florida M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-27 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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