Bill.com Acquiring Divvy?

Reports of a Bill.com acquisition of Divvy have increased all week and appear to be true. Bill.com may announce the acquisition today when the company is expected to provide its first-quarter earnings report, according to Forbes which cited unnamed sources, .

Terms of the acquisition are not known.

Earlier this year, Divvy announced a $165 million funding at a $1.6 billion valuation. According to an additional unnamed source, Bill.com, currently carrying a market cap of about $12 billion, is reported to have previously approached Divvy with an offer of more than $2 billion. 

Divvy combines expense management software and smart corporate cards into a single platform and is a natural addition to Bill.com's back-office operations platform.