Acquisition adds predictive analytics capabilities to Bottomline’s technology portfolio
PORTSMOUTH--Bottomline Technologies, a leading provider of cloud-based payment, invoice and banking announced today the acquisition of Rationalwave Analytics, an early stage predictive analytics company.
Bottomline’s data-rich applications provide a compelling opportunity to utilize predictive analytics. The company plans to leverage Rationalwave’s technology and expertise to extend the innovation Bottomline offers its customers and the competitive advantage it enjoys in the market.
“Predictive analytics will bring new levels of capability to our product set and significant business value to our customers,” said Rob Eberle, President and CEO of Bottomline Technologies. “We are delighted to welcome Rationalwave Analytics’ talented employees to Bottomline. Their wealth of experience and knowledge of the space will help drive the continued success of our business.”
Rationalwave Analytics is a pre-revenue company. The purchase price for the acquisition was $8 million, consisting of $1.2 million in cash and approximately 206,000 shares of Bottomline common stock. Approximately 45% of the stock was issued to key employees joining Bottomline and is subject to a four year vesting schedule. The transaction will have no material impact on Bottomline’s financial results.
Bottomline Technologies provides cloud-based payment, invoice and banking solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust Bottomline to meet their needs for cost reduction, competitive differentiation and optimization of working capital.