Thoma Bravo Acquires Bottomline: About the Seller and Buyer
Thoma Bravo Buys Bottomline: Executive Perspectives
In a prepared statement about the deal, Bottomline CEO Rob Eberle said:“This transaction is an exciting next chapter for our company, our customers and our employees, and is a testament to the hard work and dedication of the entire Bottomline team. We have been executing against our strategy of establishing competitive advantage with a product set designed to transform business payments for companies and financial institutions around the world. Our partnership with Thoma Bravo will provide additional resources and greater flexibility to build on our leadership position, invest in continued innovation and accelerate go-to-market efforts to deliver increased value to customers. Additionally, the transaction will allow Bottomline to benefit from the operating capabilities, capital resources and sector expertise of one of the most experienced and successful software and financial technology investors.”
“We are confident that Thoma Bravo is the ideal partner for Bottomline given its strong track record of investment in the technology industry and its deep appreciation for Bottomline’s people, products and future growth opportunities. The Bottomline Board of Directors regularly evaluates opportunities to enhance shareholder value. Following a thorough process to review strategic alternatives, we are confident that this transaction with Thoma Bravo provides a compelling opportunity to deliver immediate and certain cash value at a meaningful premium to Bottomline shareholders, as well as significant long-term benefits for customers, channel partners and employees.”
“As the digital transformation of business accelerates, we see tremendous opportunity for Bottomline to continue capitalizing on its unique position, particularly in the large and growing B2B payments market, and successfully deliver its diverse portfolio of products that intelligently digitize the way businesses pay and get paid. Bottomline is well positioned in exciting and dynamic markets and we look forward to applying our operational and investment expertise in software and financial technology to support Bottomline in its next phase of growth.”
“We’ve been tracking Bottomline as part of our broader financial technology effort for many years and are excited to work closely with the company to continue building on its strong track record of consistent innovation and growth. We look forward to partnering with Bottomline’s highly-experienced management team to support their vision for continued growth and unwavering focus on delighting customers.”
Thoma Bravo Funds and Acquisitions
Thoma Bravo appears well-funded to make additional acquisitions throughout 2022 and beyond. Indeed, Thoma Bravo in October 2020 raised $22.8 billion to address:- $17.8 billion for the Thoma Bravo Flagship Fund XIV;
- $3.9 billion for the Thoma Bravo Discover Fund III to back midsize enterprise software and technology businesses; and
- $1.1 billion for Thoma Bravo Explore Fund, which targets small technology businesses.