Bottomline takes on financial messengers Sterci and Simplex

Cloud payment outfit Bottomline has bought Sterci and Simplex, two financial messaging and informational services.

Cloud payment outfit Bottomline has bought Sterci and Simplex, two financial messaging and informational services.

The deal – which has yet to disclose financial terms – will see Bottomline take over financial messaging across more than 530 banks in 20 different countries.

Lloyds Banking Group, Franklin Templeton, JP Morgan, Credit Agricole and BNP Paribas are among clients that currently use the messaging service.

While the Sterci acquisition has been finalised, the deal with Simplex has yet to be approved by its shareholders and is expected to be finalised in September 2013.

"Bringing together these three businesses creates a truly global financial messaging business with the expertise, resources and scale to help customers around the world optimize their financial transactions," said Rob Eberle, CEO of Bottomline.

Bottomline will use the SWIFT global messaging network – a platform for data transmission used by more than 10,200 financial organisations – offered by Swiss-based Sterci and London-based Simplex.

Bottomline posted a $3.6 year-on-year increase in its April to June quarterly results. Revenues for the most recent quarter were $65.0m, up 6% from last year.

 

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