Bill Holdings denies report on deal to acquire Melio
Bill Holdings denies report on deal to acquire Melio
Melio raised $250 million at a $4 billion valuation in September 2021
UPDATE (November 09, 2023, 11:00 AM Eastern Standard Time): Bill Holdings issued a statement in which the company denies the report in Bloomberg about a deal to acquire Melio. "A news agency issued an article about a rumored acquisition between BILL and another company. Although BILL’s general policy is not to comment on market rumors or media speculation, BILL is not pursuing any such acquisition at this time", said the company in the statement.
Earlier today Bloomberg News reported that Israeli fintech unicorn Melio is on the verge of being acquired by software services provider Bill Holdings. Bloomberg report cited people with knowledge of the matter.
The transaction values Melio at $1.95 billion, according to the report, which added that the cash-and-stock deal could be announced as soon as this week.
Bill Holdings' shares were down more than 13% at $54 in extended trading. Bill Holdings has a market cap of around $6.6 billion. While discussions are at a late stage, they could still be delayed or falter, and terms could change, Bloomberg News said.
Melio raised $250 million at a $4 billion valuation in September 2021. Founded by fintech veterans Matan Bar, Ilan Atias, and Ziv Paz, Melio develops a technological solution enabling small businesses in the U.S. to digitally transfer payments to their suppliers, rather than using bank transfers of checks. Its solution helped small businesses overcome the payment transfer challenges brought about by the Covid-19 pandemic.
First published: 10:11, 09.11.23
