Stock Groups

Bottomline Nears Price Thoma Bravo is Paying to Take It Private -Breaking

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Bottomline Technologies stock (NASDAQ:) surged 15% Friday to hit the day’s high of $56.38, nearing the $57 a share price at which Thoma Bravo agreed to take it private.

This transaction is worth approximately $2.6 billion.

This deal should close by the end of June quarter. The transaction has been approved by the boards.

Bottomline reported total revenue of $471 millions for the year ending June 30, an increase of 7%

Given its potential to scale up and expand, the payments sector is an attractive market. This has led to large payments processors and private equity firms looking for deals.  

Bottomline offers services to banks and corporations for international and domestic payments.

Thoma Bravo managed assets worth more than $91 trillion as of September 30,

Thoma plans to purchase several companies this year, including online survey provider Medallia and Software Security Group Proofpoint (NASDAQ). QAD is an online supplier chain solutions provider QAD.

Private equity has acquired over 325 companies worth more than $155 billion during the past two decades.

 

 

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