Bottomline Technologies Acquires Direct Debit Limited

Bottomline Technologies EPAY today announced the acquisition of Direct Debit Limited (DDL), a London-based provider of payments automation software for direct debits and receivables management for corporations, banks, financial institutions and government organizations. Bottomline expects the acquisitions to contribute approximately $500,000 and $1 million of revenue in the third and fourth quarters respectively and be dilutive by approximately 2¢ in both the third and fourth quarters, principally due to the impact of the accounting treatment of acquired deferred revenue. The transactions are projected to be accretive to core net income in fiscal 2012 and beyond.