A $2.6 billion purchase
Bottomline Technologies (EPAY), the US financial technology provider, said on Friday that it will be acquired by Thoma Bravo, a software investment firm, for a total consideration of about $2.6 billion.
Upon completion of the deal, which is expected to close in the second quarter of next calendar year, Bottomline will become a private company.
Under the terms of the deal, Bottomline shareholders will receive $57 per share in cash and a premium of about 41 per cent to the company's 30-day weighted average price as of October 19.
Rob Eberle, Bottomline's CEO, commented: "Our partnership with Thoma Bravo will give us additional resources and flexibility to grow our leadership position, invest in continuous innovation, accelerate time to market and deliver added value to our customers."
The acquisition will allow US companies to benefit from the business capabilities, capital resources and industry expertise of one of the most successful investors in software and financial technology.
Bottomline Technologies Inc. provides collaborative payment, invoice, and document automation solutions to corporations, financial institutions, and banks worldwide.