Houston Technology Center company acquired, expects to double local presence

 

Charlotte, North Carolina-based AvidXchange Inc. announced May 19 it has entered an agreement to acquire Houston-based Strongroom Solutions, a technology company that focuses on accounts payable software for the real estate market.

AvidXchange intends to keep the Houston presence, and in fact, it plans to double the employee headcount in Houston over the next 12 months. Currently, Strongroom Solutions has 11 full-time employees and roughly 18 contractors. Those new hires will mostly be sales, marketing and software development for the company, Tyler Gill, Strongroom CEO told the HBJ.Charlotte, North Carolina-based AvidXchangeInc. announced May 19 it has entered an agreement to acquire Houston-based Strongroom Solutions, a technology company that focuses on accounts payable software for the real estate market.

Strongroom was founded in 2007 and is a former company of the Houston Technology Center's incubation program. The company is located at the Houston Technology Center's Midtown headquarters, where it plans to stay, Gill said.

Terms of the deal were not disclosed, and the deal is expected to be completed May 27.

AvidXchange is a fast-growing technology company that focuses on automated invoice and billing, the Charlotte Business Journal, a sister paper, has reported.The company recently announced a move to a new headquarters in Charlotte along with plans to add more than 600 jobs.