AvidXchange Acquires BankTEL Systems
August 27, 2019
AvidXchange, the Charlotte-based accounts payable and payment automation provider, agreed to acquire BankTEL Systems, a provider of accounting solutions serving more than 20% of U.S. banks. The deal will integrate AvidPay and AvidXchange's network (500,000+ suppliers) with BankTEL's ASCEND banking accounting suite, expanding AvidXchange's capabilities and industry-specific offerings for financial institutions.
- Buyers
- AvidXchange
- Targets
- BankTEL Systems
- Industry
- Software
- Location
- Mississippi, United States
- Transaction Type
- Buyout
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