Bottomline Technologies Acquires DDL
The addition of DDL extends Bottomlineâ€™s global payments capabilities.
By improving inbound cash flow and reducing days sales outstanding, customers enjoy lower financing costs and improved working capital management. Customers can access the solutions online using a Software as a Service model, or can deploy the solutions on-site.
The acquisition of DDL expands Bottomlineâ€™s transaction banking portfolio and allows banks to offer white-labeled receivables management solutions to their corporate customers.
Bottomline helps banks differentiate their portfolio by offering transaction banking solutions to their customers, thereby enhancing relationships, driving transaction revenues and increasing profitability.
DDL provides payments and receivables automation solutions to some of the enterprises. This transaction expands Bottomlineâ€™s relationships with major banks, including HSBC and RBS, and corporations such as The Associated Press, Cadbury Schweppes, Lâ€™Oreal and Manchester United.
The combination also extends Bottomlineâ€™s existing relationships with Vocalink and Bacs.
In addition, today Bottomline also said it has purchased the principal assets of Business Information Technology Group (BITG). As part of the transaction, six employees from BITG will join Bottomline.
Bottomline expects the acquisitions to contribute approximately $500,000 and $1m of revenue in the third and fourth quarters respectively and be dilutive by approximately 2Â¢ in both the third and fourth quarters, principally due to the impact of the accounting treatment of acquired deferred revenue. The transactions are projected to be accretive to core net income in fiscal 2012 and beyond.
Rob Eberle, president and CEO of Bottomline Technologies, said: â€œWe welcome DDLâ€™s clients to Bottomline and look forward to demonstrating our commitment to their continued success. The addition of Direct Debitâ€™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.â€
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