Bottomline Technologies to acquire Albany Software

Merging

Bottomline Technologies, a provider of cloud-based payment, invoice and banking solutions, has gained regulatory clearance to acquire Albany Software, a BACS solution provider. Based in the UK, Albany’s solutions are used by around 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,” said Nigel Savory, MD of Bottomline. “The combination of our businesses represents an opportunity to realise 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 previously transaction is expected to be accretive within the first year.

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