Bottomline buys Sterci and Simplex

Bottomline buys Sterci and Simplex

Bottomline Technologies is increasing its presence in the financial messaging arena with the acquisitions of Swiss outfit Sterci and London-based Simplex. Financial terms have not yet been disclosed.

The Sterci deal has been completed while an agreement is in place for Simplex and is slated to be closed in the next month. Sterci acquired a 51% stake in Simplex in 2011.

Between them, the pair use the Swift global messaging network on behalf of more than 350 customers across 20 different countries.

US-based Bottomline says that the two, combined with its own existing Swift Access Service financial messaging business, will create a new global centre of excellence in financial messaging.

It will serve over 530 banks, financial institutions and corporations across 20 different countries with locations in key financial hubs including Geneva, Frankfurt, Paris, London, New York, Toronto and Singapore.

"Bringing together these three businesses creates a truly global financial messaging business with the expertise, resources and scale to help customers around the world optimize their financial transactions," says Rob Eberle, president and CEO, Bottomline.

Yesterday Bottomline posted fourth quarter revenues of $65 million, an increase of $3.6 million, or six per cent on the same period the previous year. Core net income was $11.7 million, up $2.6 million.

Comments: (1)

Enrico Camerinelli
Enrico Camerinelli - Aite Group - Boston 13 September, 2013, 21:04Be the first to give this comment the thumbs up 0 likes I recently posted a blog article on this topic in