Science & Technology
Science and Technology
Science and Technology
Wed, October 27, 2010
Tue, October 26, 2010
PORTSMOUTH, N.H.--([ BUSINESS WIRE ])--Bottomline Technologies ([ NASDAQ: EPAY ]), a leading provider of collaborative payment, invoice and document automation solutions, today announced the acquisition of SMA Financial, a London-based provider of Software as a Service (SaaS) connectivity to SWIFT for the automation of payments and financial messaging.
"We are very excited to welcome SMA clients to Bottomline and are fully committed to their continued success"
This acquisition combines a well-known SWIFT Regional Partner (the UK, Ireland and the Channel Islands) with Bottomlinea™s expertise in treasury and cash management technology. The combined offering will focus on providing SaaS-based SWIFT connectivity, to be called SWIFT Access Service, and next-generation treasury and cash management solutions to a range of bank and corporate customers.
aWe are very excited to welcome SMA clients to Bottomline and are fully committed to their continued success,a said Bottomline president and CEO Rob Eberle. aSWIFT Access Service is a natural extension of our suite of cloud-based offerings designed to assist corporations and financial institutions streamline their payments processes and realize the associated cost-savings and efficiency benefits.a
aWe are delighted to see SMA joining forces with Bottomline,a said Simon Murby, managing director at SMA Financial. aWe are confident Bottomline will offer our customers and partners great value by extending their powerful range of complementary products in payments and invoicing, as well as a strong focus on their success.a
SMA currently provides SWIFT connectivity to a wide range of corporate and financial industry customers, including National Grid, Vodafone and Standard Life. With a SaaS solution, customers are not required to host software, develop costly internal infrastructure or hire internal SWIFT experts. This solution, SWIFT Access Service, makes it easier to connect to the SWIFT Network to exchange financial information including payment instructions, cash reporting and other messages related to financial transactions with their banks and counterparties around the world. Additionally, SaaS connectivity to SWIFT allows banks and corporations to achieve lower costs, rapid implementation and return on investment, greater security and improved operational risk management in their cash management strategy.
Bottomline expects the acquisition to contribute less than $1 million of revenue per quarter in fiscal 2011 and be dilutive by approximately 4, 3 and 2 in the second, third and fourth quarters respectively, solely due to the impact of the accounting treatment of acquired deferred revenue. The transaction is projected to be accretive to core net income in fiscal 2012 and beyond.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The companya™s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit [ www.bottomline.com ].
Bottomline Technologies, SMA Financialand the BT logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names may be trademarks of their respective owners.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10-K for the fiscal year ended June 30, 2010 and any subsequently filed Form 10-Qs, Form 8-Ks or amendments thereto. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
