Overview of Transaction

• On May 19, 2015, AvidXchange, Inc. announced that it had agreed to acquire Strongroom Solutions
• Strongroom provides payables lockbox and integrated accounts payable (AP) solutions for Home Owner Associations (HOAs)
• AvidXchange is a leading provider of AP management software and payment automation solutions

Significance of Transaction

• The transaction will provide a complementary AP and payments product, as well as reinforce AvidXchange’s role as a leading innovator in automating the AP process and streamlining business-to-business payments
• In addition, the acquisition provides the opportunity for AvidXchange to deliver products through financial institutions as part of a comprehensive AP and treasury management solution
• AvidXchange will leverage Strongroom’s market expertise in the HOA vertical to both strengthen its position in the marketplace and to expand into new markets

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to AvidXchange and its Board of Directors
• FT Partners leveraged its deep knowledge and extensive industry experience to evaluate this opportunity
• Transaction demonstrates FT Partners' continued success advising top-tier Financial Technology companies