Cloud-based payment, invoice and digital banking solutions provider Bottomline Technologies announced it will acquire customer acquisition solutions Andera.
The acquisition, which totals $44.5 million in cash and 102,000 shares of Bottomline stock, will add to Bottomline's overall digital offerings, the company said. Andera's cloud-based platform, oFlows,offers bank customers the ability to send in identity verifying signatures and documents to open accounts in digital and mobile channels.
"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," said Norm DeLuca, General Manager of Banking and Financial Services at Bottomline, in a statement.
Additional financial details of the transaction will be provided on Bottomline's third quarter Fiscal 2014 earnings conference call, the company said.