Bottomline Technologies Acquires Andera for $44.5M

bottomlineAndera Inc., a Providence, R.I.-based provider of a Software as a Service solution that simplifies account opening and lending for banks and credit unions, has been acquired by Bottomline Technologies for $44.5m in cash.

Bottomline Technologies (NASDAQ: EPAY) is a provider of cloud-based payment, invoice and digital banking solutions. As said by Rob Eberle, President and CEO, with the acquisition of Andera, the company extends its portfolio of payments and digital banking solutions.

Founded by CEO Charlie Kroll in 2000, Andera sells software that allows banking customers to originate and fund new accounts and loans from mobile devices. The company has served over 500 bank and credit union customers process more than 4.5 million new account applications online.

Edison Ventures exited the company. Another backer was Slater Technology Fund.

FinSMEs

08/05/2014

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