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Divvy, a startup in expenditure reporting, will be acquired by the fintech Bill.com for $2.5 billion.
According to a release, Bill.com (ticker: BILL) will pay $625 million in cash and $1.875 billion in shares as part of the agreement, which was announced on Thursday. The transaction has been authorised by the boards of both Divvy and Bill.com, and it is anticipated to close by the conclusion of Bill.com’s first fiscal quarter, which ends on September 30.
The latest penalties imposed by China in retaliation for the sale of weapons to Taiwan on executives of Boeing and Raytheon Technologies are probably just the beginning.
Although U.S.-China tensions are dangerously high, investors in international firms may not be suffering as much as those who hold Taiwanese stock at this time.
Growth company prices have plummeted this year, but a number of signs indicate to a comeback in the near future, and investors should get ready to purchase. The Nasdaq-100 index, which represents just over 100 of the biggest nonfinancial businesses listed on the Nasdaq stock market, has decreased by approximately 27% this year. This is due to the fact that the faster-growing technology sector has been affected harder than the 19%-down S&P 500SPX -1.10%. The high-growth and innovative company-focused ARK Innovation ETF ARKK -1.67% (ticker: ARKK) is down 57% for the year. Read the entire piece.