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Bottomline to Acquire Albany Software

Regulatory clearance allows companies to combine

Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, have announced that it has gained regulatory clearance to acquire Albany Software Ltd. Formed in 1989, Albany is one of the UK’s leading BACS solution providers. Albany’s solutions are used by more than 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,” commented Nigel Savory, Managing Director 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 announced transaction is expected to be accretive within the first year. The projected financial impact of the acquisition was included in Bottomline’s recently issued fiscal 2013 guidance.