Software investment firm Thoma Bravo is to acquire Bottomline Technologies, a provider of business payments financial technology in an all-cash transaction that values the company at approximately USD2.6 billion.
Upon completion of the transaction, Bottomline will become a privately held company.
Under the terms of the agreement, Bottomline shareholders will receive USD57.00 per share in cash, which represents a premium of approximately 42 per cent to Bottomline’s unaffected closing stock price on 19 October 9, 2021, the last full trading day prior to the announcement of the formation of the Bottomline Board of Directors’ Strategy Committee, and a premium of approximately 41 per cent to Bottomline’s 30-day volume weighted average price as of 19 October, 2021.
Read more/Source: Private Equity Wire
