Bottomline Technologies to acquire Andera

PORTSMOUTH, USA: Bottomline Technologies the cloud-based payment, invoice and digital banking solutions provider, 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.

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 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, GM of Banking and Financial Services at Bottomline.

"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.