Bottomline completes UK acquisition

Bottomline Technologies, a Portsmouth-based provider of payments and invoice automation software and services, has completed its acquisition of UK-based Tranmit Plc, a provider of Web-based purchase-to-pay automation solutions.

The addition of Tranmit’s invoice management capabilities enhances the company’s ability “to drive customer value for new and existing customers,” said Joe Mullen, CEO of Bottomline .

Tranmit’s product suite, which will be integrated with Bottomline’s payment platforms, manages and automates transactions, both paper-based and electronic, from requisitioning, purchasing and receiving to invoice matching and approval for payment.

The Tranmit acquisition is valued at approximately $9 million in cash and stock. – NHBR STAFF

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