Bill.com To Acquire Accounts Receivable Software Firm Invoice2go For $625M

Cloud-based software provider Bill.com Holdings Inc BILL inked an agreement to acquire Invoice2go in a stock and cash transaction valued at $625 million.
The company will offer 75% of the purchase price in stock and the remaining in cash.
Invoice2go is a mobile-first accounts receivable (AR) software provider that empowers small businesses and freelancers to grow their client base, manage invoicing and payments, build their brand, and much more.
Bill.com's payments expertise and go-to-market capabilities combined with Invoice2go's product capabilities can make it even easier for businesses to get paid quickly and electronically.
Bill.com's payments platform and broad market reach with Invoice2go's deep AR expertise provide a unique opportunity to offer SMBs and freelancers a powerful platform to streamline their day-to-day financial operations and control their cash flow.
Bill.com held $1.7 billion in cash and equivalents as of Mar. 31.
Price action: BILL shares traded lower by 0.7% at $180.73 on the last check Monday.