Bill.com To Buy Invoice2go In $625 Mln Deal - Quick Facts

(RTTNews) - Bill.com (BILL), a provider of cloud-based software, announced Monday that it has signed a definitive agreement to acquire Invoice2go in a stock and cash transaction valued at about $625 million.

The consideration includes 75% in Bill.com Common Stock and 25% in cash.

Invoice2go is a mobile-first accounts receivable or AR software provider that empowers small businesses and freelancers to grow their client base, manage invoicing and payments, and build their brand, among others. It has offices in Sydney, Australia and Palo Alto, California.

The transaction has been approved by the Boards of Directors of both Invoice2go and Bill.com.

The deal is expected to close by the end of this calendar year, subject to receipt of regulatory approvals and other customary closing conditions.

Bill.com expects the acquisition to enhance its current accounts receivable offering. The deal supports Bill.com's mission to make it simple to connect and do business.