Fenwick Represents Bill.com in Definitive Agreement to Acquire Divvy for $2.5 Billion

Fenwick represented Bill.com (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes and automates complex back-office financial operations for small and midsize businesses, in its definitive agreement to acquire Divvy in a stock and cash transaction valued at approximately $2.5 billion.

The acquisition supports Bill.com’s mission and enhances the company’s ability to deliver value to the combined customer base. The deal is expected to close by September 30, 2021, subject to regulatory approvals and other customary closing conditions. More information can be obtained from Bill.com’s announcement.

Fenwick has served as primary outside counsel to Bill.com since 2006, led by corporate partner Mark Stevens, and has represented the company through its initial public offering, multiple financing rounds, a follow-on offering and a convertible senior notes offering.

The Fenwick transaction team was led by corporate partner Bomi Lee and included senior associate Chris Gorman and associates Sam Fleuter and Atrina Mehdipour; capital markets partner James Evans and associate Michael Shaw; executive compensation and employee benefits partner Shawn Lampron, counsel Nicholas Frey and associate Jonathan Stephenson; technology transactions partner Jonathan Millard, counsel Ryan Straus, associates Russell Wong, Igor Voloshin and Julia Chung, and advisor Sandra Weustink; antitrust and trade regulation partner Mark Ostrau; privacy and cybersecurity counsel Helen Christakos and associate Ana Razmazma; and tax partner Will Skinner and associate Ariel Love.