This week, the market proved that buyers’ interests have largely moved towards markets that have experienced increased growth brought on by COVID-19, especially the digital healthcare area. Healthcare ISV provider, HealthEdge, acquired The Burgess Group this week to help enhance its claims processing offering by including software-driven payment integrity to help provide further transparency between payers and healthcare providers. Another area that has withstood COVID-19 has been eCommerce. eBay announced this week their sale of its Classified Group to Adevinta for a total consideration of $9.2 billion. In addition, NewOak Finance announced their acquisition of eCommerce lending solution, FuturePay.
In other M&A news, REPAY announced their acquisition of cPayPlus, an accounts payable automation provider based out of Utah. REPAY will pay up to $16 million for the deal, of which $8 million was paid at closing. This acquisition aims to enhance REPAY’s software automation and payment solutions for the B2B market.