Bottomline Technologies agrees to be taken private by Thoma Bravo for $2.6B

Dec. 17, 2021 7:14 AM ETBottomline Technologies, Inc. (EPAY)By: Liz Kiesche, SA News Editor3 Comments

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  • Bottomline Technologies (NASDAQ:EPAY) agrees to be acquired by investment firm Thoma Bravo in an all-cash deal valuing the payments technology company at $2.6B.
  • Bottomline (EPAY) shareholders will get $57.00 per share in cash, reflecting a premium of ~42% to the stock's unaffected closing price on Oct. 19, the last full day of trading before the company's board announced it formed a strategy committee.
  • The price is 17% higher than $48.92, EBA shares' closing price on Thursday.
  • Bottomline's (EPAY) directors, including its CEO, and Clearfield Capital Management have agreed to vote their shares, 4% of EPAY's outstanding shares, in favor of the transaction.
  • The transaction is expected to close in Q2 2022.
  • Earlier this month, a Raymond James analyst figured Bottomline's (EPAY) could fetch as much as $71 per share.

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