bill.com smbs divvy barrononline
The fintech Bill.com is buying Divvy, an expense reporting start-up, for $2.5 billion.
The deal, announced Thursday, calls for Bill.com (ticker: BILL) to pay $625 million in cash plus $1.875 billion in stock, a statement said. The boards of both Divvy and Bill.com have approved the sale, which is expected to close by the end of Bill.com’s first fiscal quarter ending Sept. 30.
Bill.com, a cloud-based payments service for SMBs, has agreed to acquire expense management software provider Divvy for $2.5B in cash and stock (Luisa Beltran/Barron’s Online)
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