Tuesday 4 September, 2012

Regulatory clearance allows companies to combine

Bottomline Technologies, has gained regulatory clearance to acquire UK based Albany Software Ltd. Formed in 1989, Albany is one of the UK’s leading BACS solution providers.

Albany’s solutions are used by more than 5,000 businesses to streamline, automate and manage processes involving the collection of direct debits and electronic payments.

Nigel Savory, Managing Director of Bottomline said, “We are delighted that we have been cleared to proceed with this acquisition,” commented."

He added, “The combination of our businesses represents an opportunity to realise operating synergies and accelerate our cloud innovations for businesses of all sizes. We are excited to welcome Albany clients to Bottomline and are fully committed to their success.”

Last month Bottomline Technologies partnered the Australia and New Zealand Banking Group (ANZ) to launch ANZ Transactive, a Mobile banking app.