Adyen Acquires Enterprise Billing Platform Orb for $335 Million

Adyen N.V. (AMS: ADYEN) has entered into a definitive agreement to acquire Orb, an enterprise billing platform headquartered in San Francisco, through a reverse triangular merger valued at $335 million. The transaction, expected to close on July 1, 2026, will see Orb become an indirect wholly owned subsidiary operating under an incubator model to preserve its operational continuity during integration.

Adyen will finance the acquisition entirely from its available cash resources. The co-founders of Orb will reinvest a significant portion of their proceeds into newly issued ordinary shares of Adyen, underscoring their commitment to the combined entity. The deal remains subject to customary closing conditions and regulatory approvals.

Founded in 2021, Orb provides a technology-first infrastructure engine that tracks real-time usage data and translates complex pricing contracts for global enterprises. The company has raised $44 million in total funding, including a $25 million Series B round in 2024. Orb’s client roster includes AI-native and SaaS companies such as Vercel, Glean, Replit, and Supabase.

The acquisition addresses a growing market shift toward usage-based pricing models, driven by AI and digital transformation. These models require infrastructure capable of processing millions of usage events in real time, making billing a strategic entry point into high-growth digital businesses. Currently, payments and billing systems operate in silos, limiting data insights. By integrating Orb’s billing platform with Adyen’s payments infrastructure, the combined solution aims to create a two-way intelligence advantage.

Orb’s architecture stores the full event stream at scale, decoupling data ingestion from invoicing. This approach offers enterprises greater flexibility in pricing structures, backtesting, and monetization optimization. Adyen plans to maintain Orb’s multi-payment service provider (PSP) support initially, with a long-term goal of converging billing and payments into a unified infrastructure experience for merchants.

Ingo Uytdehaage, Co-CEO of Adyen, stated, “Our customers increasingly need infrastructure that can handle complex, high-volume usage models, particularly as AI reshapes how software is priced and consumed. Combining Orb’s billing product with Adyen’s payments platform closes the loop between what merchants charge and how those charges perform, enabling merchants to automate smarter revenue decisions in real time.”

Alvaro Morales, CEO of Orb, added, “Standalone billing systems are fundamentally limited because they operate blind to transaction execution. By joining forces with Adyen, we can connect this ingestion layer directly to real-time financial health signals, closing the loop between billing logic and payment success.”

The acquisition is expected to contribute approximately one percentage point to Adyen’s net revenue growth in 2026, alongside a one percentage point margin dilution including one-time transaction costs. Adyen reiterates its previously announced financial objectives remain unchanged and independent of this and the Talon.One acquisition.

Legal counsel for Adyen was provided by Wilson Sonsini Goodrich & Rosati, P.C., with KPMG Advisory N.V. serving as financial due diligence advisor. Orb was advised by Goodwin Procter LLP and AXOM Partners LLC acted as exclusive financial advisor.

This strategic investment strengthens Adyen’s position in the enterprise billing and payments market by addressing the increasing demand for integrated, usage-based pricing solutions. The combined platform is positioned to enhance fraud detection, transaction success rates, and dynamic identification capabilities by leveraging real-time billing and payment data.

Looking ahead, Adyen plans to integrate Orb’s technology more deeply into its platform, aiming to deliver a seamless infrastructure experience that supports the evolving monetization needs of digital enterprises globally.