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Bottomline Technologies Buys Software Provider Andrea

Bottomline Technologies has struck a $48 million dollar deal to purchase Andrea, whose software platform helps financial institutions leverage digital channels to acquire new customers.

"Our strategy is to help financial institutions grow by acquiring and deepening customer relationships through digital channels. Andera's innovative solutions will enable our clients to grow revenues and compete and win in digital banking," Norm DeLuca, GM, banking and financial services, Bottomline told Finextra.

Bottomline has agreed to pay $44.5 million in cash and 102,000 shares of its stock for Andrea.  Bottomline closed at $35.15 a share on March 31, 2014


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