Bottomline managing director Nigel Savory said, "The combination of our businesses represents an opportunity to realize operating synergies and accelerate our cloud innovations for businesses of all sizes."
As per the acquisition agreement, the transaction is expected to be accretive within the first year, while the projected financial impact of the acquisition has been included in Bottomline’s recently issued fiscal 2013 guidance.
Formed in 1989, the UK’s BACS solution provider Albany offers its technologies to over 5,000 businesses to assist them to streamline, automate and manage processes that involve the collection of direct debits and electronic payments.
Bottomline Technologies offers cloud-based systems to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents to corporations, financial institutions and banks throughout the globe.
