Bottomline has claimed that the proposed transaction, which has been approved by the board of directors of both companies, is subject to Optio Software shareholder approval and other standard closing conditions.
The agreement, valued at $44.9 million, is expected to close during Bottomline’s fiscal fourth quarter and be accretive to fiscal 2009 earnings.
Rob Eberle, president and CEO of Bottomline Technologies, said: We believe the combination of Optio’s technology and solutions with Bottomline’s existing capabilities will allow us to deliver greater value to customers in the future.
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