RTTNews | Dec 17, 2021 07:46AM EST

07:46 Friday, December 17, 2021 (RTTNews.com) - Bottomline Technologies (EPAY), an American provider of financial technology, said on Friday that it would be acquired by Thoma Bravo, a software investment firm, for a total cash transaction of about $2.6 billion.

Upon completion of the transaction, which is expected to be closed in the second quarter of next calendar year, Bottomline will become a privately held company.

According to the deal terms, Bottomline shareholders will receive $57 per share in cash, and a premium of approximately 41 percent to the company's 30-day volume weighted average price as of October 19.

Rob Eberle, CEO of Bottomline, commented: "Our partnership with Thoma Bravo will provide additional resources and greater flexibility to build on our leadership position, invest in continued innovation and accelerate go-to-market efforts to deliver increased value to customers."

The American firm noted that the transaction will allow it to benefit from the operating capabilities, capital resources and sector expertise of one of the most experienced and successful software and financial technology investors.

Read the original article on RTTNews ( https://www.rttnews.com/3250231/thoma-bravo-to-buy-fintech-firm-bottomline-for-about-2-6-bln.aspx)

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