Bottomline to Acquire Albany Software
Regulatory clearance allows companies to combine
PORTSMOUTH, N.H. – September 03, 2012 –
Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that it has gained regulatory clearance to acquire Albany Software Ltd. Formed in 1989, Albany is one of the UK’s leading BACS solution providers. Albany’s solutions are used by more than 5,000 businesses to streamline, automate and manage processes involving the collection of direct debits and electronic payments.
“We are delighted that we have been cleared to proceed with this acquisition,” commented Nigel Savory, Managing Director of Bottomline. “The combination of our businesses represents an opportunity to realise operating synergies and accelerate our cloud innovations for businesses of all sizes. We are excited to welcome Albany clients to Bottomline and are fully committed to their success.”
The previously announced transaction is expected to be accretive within the first year. The projected financial impact of the acquisition was included in Bottomline’s recently issued fiscal 2013 guidance.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides cloud-based payment, invoice and banking solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust Bottomline to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
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