Thoma Bravo to take fintech Bottomline private for $2.6 bln

  • 12/17/2021
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Dec 17 (Reuters) - Private equity firm Thoma Bravo said on Friday it would buy Bottomline Technologies (EPAY.O) in an all-cash deal that values the financial technology provider at about $2.6 billion. The software-focused PE firm"s move to buy Bottomline comes at a time when the pandemic has accelerated the adoption of technology across industries. Under the terms of the deal, expected to close in the second quarter of next year, Bottomline shareholders will get $57 per share, a 16.5% premium to its previous close. Shares of Bottomline jumped 15% in pre-market trading. Corporations and banks use the Portsmouth, New Hampshire-based Bottomline"s services for domestic and international payments, cash management, automated workflows for payment processing and bill review, and fraud detection, among others. Thoma Bravo had more than $91 billion in assets under management as of Sept. 30. Deutsche Bank Securities Inc is serving as exclusive financial advisor to Bottomline, while BofA Securities, Inc is serving as exclusive financial advisor to Thoma Bravo.

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