16 August 2017
Find out more

Bottomline Technologies acquires Direct Debit Limited

22 February 2011  |  3342 views  |  0 Source: Bottomline Technologies

Bottomline Technologies (NASDAQ:EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced the acquisition of Direct Debit Limited (DDL), a London-based provider of payments automation software for direct debits and receivables management for corporations, banks, financial institutions and government organizations.

The addition of DDL extends Bottomline's global payments capabilities. By improving inbound cash flow and reducing days sales outstanding, customers enjoy lower financing costs and improved working capital management. Customers can access the solutions online using a Software as a Service (SaaS) model, or can deploy the solutions on-site.

The acquisition of DDL expands Bottomline's transaction banking portfolio and allows banks to offer white-labeled receivables management solutions to their corporate customers. Bottomline helps banks differentiate their portfolio by offering transaction banking solutions to their customers, thereby enhancing relationships, driving transaction revenues and increasing profitability.

"We welcome DDL's clients to Bottomline and look forward to demonstrating our commitment to their continued success," said Rob Eberle, president and CEO of Bottomline Technologies. "The addition of Direct Debit's solutions is an important and valuable extension of our suite of global payments, invoicing and transaction banking solutions, offering corporations and financial institutions powerful technology that is flexible and easy to use."

DDL provides payments and receivables automation solutions to some of the world's leading enterprises. This transaction expands Bottomline's relationships with major banks, including HSBC and RBS, and corporations such as The Associated Press, Cadbury Schweppes, L'Oréal and Manchester United. The combination also extends Bottomline's existing relationships with Vocalink and Bacs.

"The DDL team is thrilled to be part of Bottomline," said Gerry Hill, managing director of Direct Debit Limited. "We're certain that Bottomline will continue to focus on the success of our customers and trading partners, and deliver further value with an enhanced portfolio of payment, receivables and transaction banking solutions."

In addition, today Bottomline also announced it has purchased the principal assets of Business Information Technology Group (BITG), a leading Australia-based Bottomline distributor and channel partner focused on the corporate market. As part of the transaction, six employees from BITG will join Bottomline.

Bottomline expects the acquisitions to contribute approximately $500,000 and $1 million of revenue in the third and fourth quarters respectively and be dilutive by approximately 2¢ in both the third and fourth quarters, principally due to the impact of the accounting treatment of acquired deferred revenue. The transactions are projected to be accretive to core net income in fiscal 2012 and beyond.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
hands typing furiouslyBI and Analytics - A New Perspective
10950 views 0 | 2 tweets | 12 linkedin
Coinbase raises $100mCoinbase raises $100m
10067 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9419 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9174 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8283 views comments | 6 tweets | 21 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job