Private equity firm Thoma Bravo snaps up US fintech Bottomline in $2.6bn deal

New Hampshire-based fintech Bottomline Technologies is set to be acquired by private equity firm Thoma Bravo in an all-cash deal worth $2.6 billion.

The deal is expected to close by Q2 2022

The agreement will see the firm’s shareholders receive around $57 per share in cash, with Bottomline set to become a privately held company upon completion.

Bottomline CEO Rob Eberle says Thoma Bravo’s resources will allow his firm to “invest in continued innovation and accelerate go-to-market efforts” as it sets its sights on further growth.

Founded in 1989, Bottomline claims to help “businesses and financial institutions pay and get paid”, providing e-payment, invoicing and document automation software to around 600,000 companies globally.

It also offers cash management, fraud detection, behavioral analytics and regulatory compliance solutions.

The company has been busy on the acquisitions front itself this year, penning deals for treasury management software provider TreasuryXpress and business-focused paytech Bora Payments Systems (BPS).

The acquisition by Thoma Bravo has been approved by Bottomline’s board of directors and is expected to be finalised by Q2 2022, subject to customary closing conditions.