September 29, 2023

Mergers & Acquisitions

The New Merger on the Block: Bottomline Has Acquired Nexus Systems In An Undisclosed Deal

The latest buzz in the mergers and acquisitions market is the acquisition of Nexus Systems by Bottomline Technologies. The former is an AP and automation software provider in payments for property management and real estate companies. On the other hand, the latter is a business payment technology firm. The only private equity investor in Nexus before this transaction was Mainsail Partners.

With this acquisition, the terms of which are undisclosed, Nexus’ customers, suppliers, and flagship (Procure-to-Pay) will now become part of Bottomline’s Paymode-X, a payments for B2B network that churns over $300 bn annually for over 500,000 companies globally.

Speaking about the acquisition, Tom Dolan, General Manager for Paymode-X at Bottomline, highlights that this significantly improves what Bottomline will be able to deliver to real estate customers. The merger, he stressed, has brought in experts and a multi-talented team on board adding a vertical depth to the existing Paymode-X’s functionality. Bottomline now expects, Dolan further added, to delight its new and existing customers with core features like procurement, invoice automation, approval of purchase order and more. Besides, Nexus’ suppliers added to the network of Paymode-X are also excited about the digital payment that this merger will bring in.

Based at New Hampshire and branches spread across India, Singapore, US, UK, Australia, Switzerland, and Israel. Bottomline is a world player. According to information received, it was bought by Thoma Bravo, a private equity firm in late 2021 for $2.6 bn. Its customer base includes 1,400 banks (both commercial and business) and 10,000 corporates. Nexus, on the other hand, has been functioning under Thomas Coolidge (CEO) since 1999. It has its base in Virginia, US.

To keep up with the latest developments in the world of fintech and for more fintech news, please visit https://worldfintechnews.com/.

 

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