BTRS Holdings (BTRS) Acquires iController for $58M Cash
- Nasdaq, S&P 500 end lower, dragged down by communications services
- Intel (INTC) Stock Plummets as Expensive Investments Expected to Pressure Margins and FCF, Prompting Three Downgrades to Neutral
- Snap (SNAP) Stock Just Crashed 25% Following Earnings, Analyst Reaction Mixed
- Beyond Meat (BYND) Stock Plunges 14% After Slashing Revenue Outlook Amid a Decrease in Retail Orders
- Dollar pares losses as Powell signals bond taper
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Billtrust (NASDAQ: BTRS), a B2B accounts receivable (AR) automation and integrated payments leader, announced today it has acquired iController, a leading B2B provider of intelligent solutions for collections management, for $58 million, financed with cash on hand. Founded in 2007, Belgium-based iController’s software-as-a-service (SaaS) offering enables a wide range of users, from credit and collections managers to CFOs, to see information and communication in real time, providing visibility into cash flow management.
“Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers,” said Flint Lane, Billtrust Founder & CEO.
“We are pleased to welcome Peter Janssens and the entire iController team to Billtrust,” said Steve Pinado, Billtrust President. “With 566 European customers, iController is a powerful resource for credit and collections professionals and a strong strategic fit for Billtrust, expanding our physical presence in the European market while enhancing our global collections capabilities.”
“Joining the Billtrust family will help us more rapidly scale our business and increase the level of resources we can deploy to better serve our growing customer base,” said Peter Janssens, iController Founder & CEO. “Our shared values and aspirations make this an ideal combination for iController.”
iController’s team will continue to operate from its offices in Ghent, Belgium and Amsterdam, The Netherlands, expanding Billtrust’s strategic presence in the region.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Redbox Completes Business Combination With Seaport Global Acquisition Corp. (SGAM)
- Equitable Holdings (EQH) Appoints Joan Lamm-Tennant as Independent Board Chair
- Roper Technologies (ROP) Said to Mull Process Tech Unit Sale at $3 Billion Value - Bloomberg
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!