(Bottomline Technologies) Shares of Bottomline Technologies Inc. rose more than 15% on Friday on news it was being acquired by Thoma Bravo in a $2.6 billion all-cash transaction.
The deal, which will see Bottomline become a privately-held entity, entitles its shareholders to $57 per share in cash, which is a 42% premium to the company’s closing price on October 19, 2021.
Bottomline CEO Rob Eberle says the deal with Thoma Bravo will offer additional resources and flexibility in strengthening its leadership position, innovation, and delivery of value to its customers.
Bottomline will also benefit from Thoma Bravo’s operational capabilities and expertise in software and financial technologies.
Thoma Bravo managing partner Holden Spaht sees an opportunity for Bottomline to continue capitalizing on its expanding B2B payments sector and delivering on its diverse products following the deal.
EPAY: NASDAQ is up -15.29%.
