Bottomline acquires Direct Debit

Invoice and document automation solutions provider Bottomline has acquired payments automation software provider Direct Debit to extend its global payments capabilities.The deal is said to improve Bottomlines inbound cash flow and reduce a companys days sales outstanding. This is expected to lead to lower financing costs and improved working capital management for customers.

Invoice and document automation solutions
provider Bottomline has acquired payments automation software
provider Direct Debit to extend its global payments
capabilities.

The deal is said to improve Bottomline’s
inbound cash flow and reduce a company’s ‘days sales outstanding’.
This is expected to lead to lower financing costs and improved
working capital management for customers.

The acquisition also claims to expand
Bottomline’s transaction banking portfolio and allows banks to
offer white-labelled receivables management solutions to their
corporate customers.

“We welcome Direct Debit’s clients to
Bottomline and look forward to demonstrating our commitment to
their continued success,” said Rob Eberle, president and CEO of
Bottomline Technologies.

“The addition of Direct Debit’s solutions is
an important and valuable extension of our suite of global
payments, invoicing and transaction banking solutions, offering
corporations and financial institutions powerful technology that is
flexible and easy to use.”

Customers can access the solutions online
using a Software as a Service (SaaS) model, or deploy the solutions
on-site.

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Bottomline has also purchased the principal
assets of Australian-based Business Information Technology Group
(BITG), a Bottomline distributer and channel partner focused on the
corporate market.

Both acquisitions are expected to contribute
$500,000 and $1m of revenue in the third and fourth quarters
respectively. The transactions are projected to be accretive to
core net income in fiscal 2012 and beyond.