Kirkland & Ellis is advising private equity firm Thoma Bravo on its agreement to acquire business payments provider Bottomline Technologies for around $2.6 billion.
Skadden Arps and WilmerHale are advising Bottomline, which will become privately held after completion of the transaction, expected in 2022’s second quarter. Shareholders in Portsmouth, N.H.-based Bottomline will get $57 per share under the deal, according to a statement.
Bottomline said the deal gives it additional resources and greater flexibility to build the company’s leadership position, invest in innovation, and accelerate marketing.
“As the digital transformation of business accelerates, we see tremendous opportunity for Bottomline,” Holden Spaht, a managing partner at Thoma Bravo, said in a statement.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com
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