Divvy will be able to offer automated payable, receivables, and workflow capabilities to the more-than 7,500 monthly active SMBs that it serves. can offer expense management and budgeting software combined with smart corporate cards to its more-than 115,000 customer base and its network of 2.5 million members. The combination will expand the market opportunity for both companies. Together, we can further empower SMBs to transition quickly and easily.” We have a shared passion for helping SMBs succeed and both companies are driving our customers’ digital transformations. “We are excited to work with the talented Divvy team. Our expanded platform will provide more automation and real-time information to SMBs, enabling them to make more informed decisions,” said René Lacerte, CEO and Founder. Customers have been asking us to help them with their spend management, and I am excited that together with Divvy, we can deliver on that ask, furthering our vision to transform SMB financial operations. “Since founding, I have been driven by the desire to build solutions that make a real difference for small and mid-sized businesses. With real-time insight into all their B2B spending and access to multiple payment solutions, businesses will be empowered to spend smarter, better manage their budgets and cash flow, and simplify their back-office financial operations. ’s expanded solution will enable businesses to automatically manage accounts payable, accounts receivable, and corporate card spend all in one place, saving them valuable time and money. The acquisition supports ’s mission and enhances our ability to deliver value to the combined customer base. Divvy is a leader in spend management that modernizes finance for business by combining expense management software and smart corporate cards into a single platform. and EQT Private Equity, among other shareholders.Īdvised SoftBank in the sale of a majority of its stake in robotics company Boston Dynamics to South Korean automaker Hyundai Motor (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced today it has entered into a definitive agreement to acquire Divvy in a stock and cash transaction valued at approximately $2.5 billion. ![]() (NASDAQ: BOWX, BOWXU and BOWXW), a special purpose acquisition company (SPAC), which took the company public.Īdvised SoftBank Corporation in its $8.6 billion sale of its controlling stake in Finnish gaming company Supercell Oy to Chinese Internet company Tencent Holdings, Ltd, a global leader in personal computer and mobile games.Īdvised SoftBank Group Corp., in its $2.8 billion acquisition of 40% of AutoStore, a leading global robotics and software company headquartered in Norway, from funds affiliated with Thomas H. as the largest investor in WeWork in connection with WeWork’s merger with BowX Acquisition Corp. chip company NVIDIA.Īdvised SoftBank Group Corp. ![]() and SoftBank Vision Fund in the proposed $65 billion sale of UK-headquartered multinational semiconductor and software design company Arm Limited to U.S.
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