Bottomline Technologies acquires Albany Software Ltd

Deal Participants:
Acquiring Company: Bottomline Technologies View Profile Charts Homepage
Target Company: Albany Software Ltd View Profile Charts Homepage
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Date:
Announced: Sep 04, 2012

PRESS RELEASE

Bottomline Technologies, a leading provider of cloud-based payment, invoice and banking solutions, announced Monday that it has gained regulatory clearance to acquire Albany Software Ltd.

Formed in 1989, Albany is one of the United Kingdom'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 realize 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 projected financial impact of the acquisition was included in Bottomline's recently issued Fiscal Year 2013 guidance.

Bottomline Technologies 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.

Bottomline seeks to meet customer needs for cost reduction, competitive differentiation and optimization of working capital. For information, visit www.bottomline.com.

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Edit History:
Sep 04 '12
This version submitted by Melg8Mike

 

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