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FT Partners Advises AvidXchange on its Acquisition of Piracle

FT Partners Advises AvidXchange on its Acquisition of Piracle

Overview of Transaction

  • On November 20, 2014, AvidXchange, Inc. announced that it had completed its acquisition of Piracle, Inc.
  • Piracle provides its customers with self-service software tools to generate electronic payments and manage their paper check printing process
  • AvidXchange is a leading provider of accounts payable management software and payment automation solutions

Significance of Transaction

  • This transaction reinforces AvidXchange's role as a leading innovator in automating the accounts payable process and streamlining business-to-business payments
  • The combination provides the clients of both AvidXchange and Piracle with the benefit of a more robust set of product offerings; the new larger organization can now accommodate 100% of its customers' payments needs
  • AvidXchange will leverage Piracle's product and market expertise to both strengthen its position in existing markets and to expand into new markets

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to AvidXchange and its Board of Directors
  • FT Partners leveraged its deep knowledge of Avid and industry dynamics to evaluate this opportunity
  • The transaction demonstrates FT Partners' continued success in advising top-tier financial technology companies and ability to win repeat business from its clients