Bill.com Holdings, Inc. signed a definitive agreement to acquire Invoice2go, Inc for approximately $670 million.
July 18, 2021
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Bill.com Holdings, Inc. (NYSE:BILL) signed a definitive agreement to acquire Invoice2go, Inc for approximately $670 million on July 19, 2021. Under the terms, Bill.com Holdings, Inc. will pay with approximately 25% payable in cash subject to adjustments, and the remainder issuable in shares of Bill.com’s common stock, options to acquire Shares and restricted stock units covering Shares. As part of the consideration, Bill.com paid $164.9 million in cash and $510.2 million in equity consideration, which includes issuance of 1.79 million shares of Bill.com. In addition, pursuant to the terms and subject to the conditions set forth in the Merger Agreement, Bill.com will grant $30.0 million of RSUs under the 2019 Equity Incentive Plan to certain employees of Invoice2go who will continue as employees of Bill.com or its subsidiaries, including the surviving entity in the Merger. The transaction is subject to approval by regulatory board/committee and approval by Hart-Scott Rodino Antitrust Improvements. The transaction has been approved by the Boards of Directors of both Invoice2go and Bill.com. The transaction is expected to close by the end of this calendar year. Bomi Lee, Jing Liu, Riddhi Adhikari, Shawn Lampron, Nicholas Frey, Jonathan Millard, Stephen Gillespie, Sandra Weustink, Mark Ostrau, Helen Christakos, Will Skinner and Dawn Belt of Fenwick & West LLP acted as legal advisors to Bill.com Holdings, Inc.
BILL Holdings, Inc. is a provider of software-as-a-service, cloud-based payments, and spending and expense management products. It enables users to automate accounts payable and accounts receivable transactions, enable businesses to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve back-office efficiency. It offers financial automation software for small and midsize businesses (SMBs). Through its automated solutions, it helps SMBs simplify and control their finances. It is a partner of the United States financial institutions, accounting firms, and accounting software providers. Its artificial-intelligence (AI)-enabled financial software platform creates connections between its customers, their suppliers, and their clients. Businesses on its platform generate and process invoices, streamline approvals, make, and receive payments, manage employee expenses, sync with their accounting system, and manage their cash.
BILL HOLDINGS, INC. 
