Global alternative asset manager TPG will partner with Corpay to buy payments solutions provider AvidXchange and take it private in an all-cash deal worth $2.2 billion, the companies said on Tuesday.

The take-private deal is worth about $2.2 billion and scheduled to close during the fourth quarter of this year. 2025 CFO of the Year Awards The CFO of the Year Awards recognize the trailblazing financial leaders who navigate complex challenges,

TPG and Corpay have teamed up to acquire AvidXchange in an all-cash deal valued at $2.2bn, taking the payments firm private. The firms will pay $10.00 per share for AvidXchange, marking a 22% premium over the company’s closing price on 6 May.