Bottomline Technologies to Acquire Optio Software
Bottomline Technologies has entered into an agreement to acquire Optio Software. The acquisition is expected to extend Bottomline’s capabilities for transactional document automation. The proposed transaction, which has been approved by the board of directors of both companies, is subject to Optio Software shareholder approval and other standard closing conditions. The agreement, valued at US$44.9m, is expected to close during Bottomline’s fiscal fourth quarter and be accretive to fiscal 2009 earnings.