DGAP-News
Bottomline Technologies to Acquire Andera
DGAP-News: Bottomline Technologies, Inc. /
Bottomline Technologies to Acquire Andera
01.04.2014 / 00:37
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Market-Leading Innovator in Customer Acquisition Solutions to Extend
Bottomline's Digital Banking Platform
PORTSMOUTH, N.H., 2014-04-01 00:37 CEST (GLOBE NEWSWIRE) --
Bottomline Technologies (Nasdaq:EPAY), a leading provider of cloud-based
payment, invoice and digital banking solutions, today announced it will acquire
Andera, a provider of innovative customer acquisition solutions. Andera has
helped its over 500 bank and credit union customers process more than 4.5
million new account applications online. Andera's oFlows platform was named
'Best of Show' at Finovate four times and Bank Technology News recently named
Andera one of the 'Top 10 Tech Companies to Watch.'
As the digital channel emerges as customers' preferred way to do business with
banks, financial institutions are investing in web-based technologies to sell,
service and engage with their customers. Andera's market-leading customer
acquisition solutions enable financial institutions to accelerate revenue
growth through their intuitive online account opening and customer engagement
capabilities.
'Our strategy is to help financial institutions grow by acquiring and deepening
customer relationships through digital channels. Andera's innovative solutions
will enable our clients to grow revenues and compete and win in digital
banking,' said Norm DeLuca, General Manager of Banking and Financial Services
at Bottomline.
'We are delighted to welcome the customers and employees of Andera to
Bottomline,' said Rob Eberle, President and CEO of Bottomline Technologies.
'With the acquisition of Andera, we once again extend our portfolio of
world-class payments and digital banking solutions.'
'Bottomline's market position as a leading provider in digital banking will
allow our company to go to the next level. Jointly, we share a commitment to
innovation, the opportunity of the digital channel and to delivering customer
delight,' said Charlie Kroll, CEO of Andera.
The acquisition, representing approximately $44.5 million in cash and 102,000
shares of Bottomline stock, will be accretive to Fiscal 2015 core net income.
The revenue contribution from the transaction is expected to be $2 million in
the fourth quarter of Fiscal 2014 and $10 million in Fiscal 2015. From a core
income perspective, the transaction is expected to be 2 cents dilutive in the
fourth quarter, break-even in the first quarter of Fiscal 2015 and accretive by
Bottomline Technologies (Nasdaq:EPAY), a leading provider of cloud-based
payment, invoice and digital banking solutions, today announced it will acquire
Andera, a provider of innovative customer acquisition solutions. Andera has
helped its over 500 bank and credit union customers process more than 4.5
million new account applications online. Andera's oFlows platform was named
'Best of Show' at Finovate four times and Bank Technology News recently named
Andera one of the 'Top 10 Tech Companies to Watch.'
As the digital channel emerges as customers' preferred way to do business with
banks, financial institutions are investing in web-based technologies to sell,
service and engage with their customers. Andera's market-leading customer
acquisition solutions enable financial institutions to accelerate revenue
growth through their intuitive online account opening and customer engagement
capabilities.
'Our strategy is to help financial institutions grow by acquiring and deepening
customer relationships through digital channels. Andera's innovative solutions
will enable our clients to grow revenues and compete and win in digital
banking,' said Norm DeLuca, General Manager of Banking and Financial Services
at Bottomline.
'We are delighted to welcome the customers and employees of Andera to
Bottomline,' said Rob Eberle, President and CEO of Bottomline Technologies.
'With the acquisition of Andera, we once again extend our portfolio of
world-class payments and digital banking solutions.'
'Bottomline's market position as a leading provider in digital banking will
allow our company to go to the next level. Jointly, we share a commitment to
innovation, the opportunity of the digital channel and to delivering customer
delight,' said Charlie Kroll, CEO of Andera.
The acquisition, representing approximately $44.5 million in cash and 102,000
shares of Bottomline stock, will be accretive to Fiscal 2015 core net income.
The revenue contribution from the transaction is expected to be $2 million in
the fourth quarter of Fiscal 2014 and $10 million in Fiscal 2015. From a core
income perspective, the transaction is expected to be 2 cents dilutive in the
fourth quarter, break-even in the first quarter of Fiscal 2015 and accretive by
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