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Bill.com To Buy Divvy, for $2.5 Billion Bill.com (NYSE: BILL), a provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), is to acquire Divvy, a Draper, Utah-based spend management company, for approximately $2.5 billion. Bill.com will acquire Divvy for approximately $625m in cash and $1.875 billion of Bill.com Common Stock, subject to customary adjustments for transactions of this nature. The transaction – approved by the Boards of Directors of both Divvy and Bill.com – is expected to ...

Bill.com Is Set To Acquire Utah Billion-Dollar Software Startup Divvy Share to Facebook Share to Linkedin Less than five months after vaulting to a $1.6 billion valuation, Divvy, an expense reporting startup for small businesses, is in talks to be acquired.   Bill.com, a cloud software-based platform that helps small and midsize businesses with back-office financial operations, is Divvy’s expected buyer, two sources tell Forbes. The companies may be planning to announce the deal as soon as Thursday, when Bill.com, which currently carries a market cap of about $12 billion, is scheduled to...

Amazon smashes earnings forecast as cloud revenue hits $54B annual run rate SHARE Amazon.com Inc. boomed last year thanks to COVID-19 spurring both a consumer rush to buy online and a business imperative to move operations to the cloud — and not even the easing of the pandemic in some parts of the world has slowed its momentum. That was apparent today when the retail and cloud computing giant reportedfirst-quarter results that blew away expectations. It earned a profit of $8.1 billion, or $15.79 a share, more than triple the $2.5 billion in earned a year ago, even...

Spending On Cloud Computing Hits $42 Bn Worldwide: Tracker 04/29/21 AT 8:06 PM A record-high $41.8 billion was spent on cloud computing in the recently ended quarter as businesses leaned heavily on the internet to survive the pandemic, market tracker Canalys said on Thursday. Spending on "cloud infrastructure services" around the world was up nearly $11 billion from the first three months of last year, according to Canalys. "Cloud emerged as a winner across all sectors over the last year, basically since the start of the Covid-19 pandemic and the implementation of lockdowns," said Canalys res...

Canalys’ latest cloud infrastructure services report showed the cloud wars roiling as global spending grew 35 percent to US$41.8 billion in the first quarter of 2021, exceeding US$40 billion in a quarter for the first time. The analyst company noted the continuing rise of using cloud services for data analytics and machine learning, data centre consolidation, application migration, cloud native development and service delivery.  Total expenditure for the quarter was nearly US$11 billion higher than in Q1 2020 and nearly US$2 billion more than in Q4 2020, according to Canalys data.  Over t...