AvidXchange Surges to 98th in Trading Rankings with $758 Million Turnover

On May 7, 2025, AvidXchange (AVDX) experienced a significant surge in trading volume, with a turnover of $758 million, marking a 4457.66% increase from the previous day. This substantial rise placed AvidXchange at the 98th position in the day's trading rankings. The stock price of AvidXchange rose by 18.78%.

AvidXchange has agreed to be acquired by TPG in partnership with Corpay for $10.00 per share in a cash transaction. This deal values AvidXchange at $2.2 billion, with TPG acquiring a majority interest in the company. Corpay will invest approximately $500 million for a 33% equity stake in AvidXchange. The transaction is expected to close in the fourth quarter of the year.

This acquisition is a strategic move by TPG and Corpay to expand their presence in the accounts payable automation software and payment solutions market. AvidXchange, known for its innovative solutions, will benefit from the financial backing and expertise of TPG and Corpay, potentially driving further growth and innovation in the company.

The deal represents a significant milestone for AvidXchange, as it transitions from a publicly traded company to a privately held entity. This change in ownership structure is expected to provide AvidXchange with the flexibility and resources needed to pursue new opportunities and enhance its market position.