M&A Deal Summary

Bill.com Acquires Divvy

On May 7, 2021, Bill.com acquired internet software and services company Divvy for 2.5B USD

Acquisition Highlights
  • This is Bill.com’s 1st transaction in the Internet Software and Services sector.
  • This is Bill.com’s largest (disclosed) transaction.
  • This is Bill.com’s 1st transaction in the United States.
  • This is Bill.com’s 1st transaction in Utah.

M&A Deal Summary
Date 2021-05-07
Target Divvy
Sector Internet Software and Services
Buyer(s) Bill.com
Deal Type Add-on Acquisition
Deal Value 2.5B USD
Advisor(s) Financial Technology Partners (Financial)
Morrison & Foerster (Legal)

Target

Divvy

Draper, Utah, United States
Divvy modernizes finance for business by combining expense management software and smart corporate cards into a single platform. With Divvy, finance leaders get real-time visibility into their company spend and flexible controls that prevent teams from ever going over budget. By providing the capital and financial software they need, Divvy helps businesses in every industry to thrive. Divvy is headquartered in Draper, Utah.

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Buyer(S) 1

Buyer

Bill.com

Palo Alto, California, United States
Category Company
Founded 2006
Sector Internet Software and Services
Employees2,521
Revenue 1.1B USD (2023)
DESCRIPTION

Bill.com is a provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. The company's AI-enabled, financial software platform creates connections between businesses and their suppliers and clients. Bill.com was formed in 2006 and is based in Palo Alto, California.

DEAL STATS #
Overall 1 of 3
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Utah) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-19 Invoice2go

Palo Alto, California, United States

Invoice2go is a technology company that empowers freelancers and small businesses with straightforward tools that simplify their day-to-day workflow. The software enables users to grow their client base, manage invoicing and payments, maintain financial wellness, build their brand, and much more. Invoice2go was founded in 2002 and is based in Palo Alto, California.

Buy $625M
Mergr

Product

Company

Legal