M&A Deal Summary

Bottomline Acquires Allegient Systems

On April 1, 2011, Bottomline acquired software company Allegient Systems from H.I.G. Private Equity for 48M USD

Acquisition Highlights
  • This is Bottomline’s 4th transaction in the Software sector.
  • This is Bottomline’s 2nd largest (disclosed) transaction.
  • This is Bottomline’s 2nd transaction in the United States.
  • This is Bottomline’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2011-04-01
Target Allegient Systems
Sector Software
Buyer(s) Bottomline
Sellers(s) H.I.G. Private Equity
Deal Type Add-on Acquisition
Deal Value 48M USD
Advisor(s) Morgan Keegan & Company, Inc. (Financial)

Target

Allegient Systems

Wilton, Connecticut, United States
Allegient Systems, Inc., a provider of advanced capabilities for legal e-billing, bill review and analytics. Allegient’s proprietary Software as a Service (SaaS) platform and value-added turnkey solutions will complement and extend Bottomline’s Legal eXchange™ portfolio, offering the combined customer base of well over 100 insurers unparalleled capabilities to effectively manage their legal expenses.

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Buyer(S) 1

Buyer

Bottomline

Portsmouth, New Hampshire, United States
Category Company
Founded 1989
Sector Internet Software and Services
Revenue 471M USD (2021)
DESCRIPTION

Bottomline makes complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and fraud detection, behavioral analytics, and regulatory compliance solutions. Bottomline was founded in 1989 and is based in Portsmouth, New Hampshire.

DEAL STATS #
Overall 4 of 14
Sector (Software) 4 of 11
Type (Add-on Acquisition) 4 of 14
State (Connecticut) 1 of 1
Country (United States) 2 of 7
Year (2011) 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-26 SMA Financial

London, United Kingdom

SMA Financial Ltd., is a provider of software-as-a-service (SaaS) connectivity to SWIFT for the automation of payments and financial messaging network.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-03 Albany Software

Alton, United Kingdom

Albany Software Ltd., a banks 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.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 25 of 175
Sector (Software) 1 of 5
Type (Add-on Acquisition) 11 of 72
State (Connecticut) 1 of 2
Country (United States) 25 of 120
Year (2011) 1 of 7
Size (of disclosed) 21 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-22 SeaStar Solutions

Litchfield, Illinois, United States

SeaStar Solutions, Inc. is a provider of OEM and aftermarket products and accessories for the recreational marine and related markets. SeaStar Solutions is based in Litchfield, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-12 Walter Services

Ettlingen, Germany

Walter Services is a German provider of business process outsourcing (BPO) services for contacts with consumers. The services offered extend over the entire value chain of consumer contact. The company employs over 8,500 employees in total, who work in 19 locations in four countries (Germany, Austria, Poland and Romania).

Buy -
Mergr

Product

Company

Legal