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Billtrust set for $1.7bn acquisition by EQT

Billtrust set for $1.7bn acquisition by EQT

B2B order-to-cash outfit Billtrust has agreed to be acquired by EQT Private Equity in an all-cash deal valuing its equity at nearly $1.7 billion.

Billtrust shareholders will receive $9.50 per share in cash, a more than a 64% premium above the closing share price of $5.77 on 27 September 27.

Founded in 2001, Billtrust provides cloud-based software and integrated payment processing solutions that are designed to simplify and automate B2B commerce.

The firm went public early last year via a Spac deal but has seen its share price fall nearly 70% from a February 2021 peak.

News of the deal sent shares soaring nearly 60% to over $9 morning trading.

Flint Lane, CEO, Billtrust, says: “We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position.”

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