Billtrust Acquires iController, a Belgium-based B2B Collections Software Provider
October 12 2021 - 6:07AM
Business Wire
Acquisition Establishes Strategic European
Presence for AR Automation and B2B Integrated Payments Leader
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.
About Billtrust
Billtrust is a leading provider of cloud-based software and
integrated payment processing solutions to simplify and automate
B2B commerce. Accounts receivable is broken and relies on
conventional processes that are outdated, inefficient, manual and
largely paper based. Billtrust is at the forefront of the digital
transformation of AR, providing mission-critical solutions that
span credit decisioning and monitoring, online ordering, invoice
delivery, payments and remittance capture, invoicing, cash
application and collections. For more information, visit
Billtrust.com.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, statements regarding
the benefits and synergies that may be realized by Billtrust (“the
Company”) and iController as a result of the acquisition. These
forward-looking statements are not intended to serve as, and must
not be relied on by any investor as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and
will differ from assumptions. Many actual events and circumstances
are beyond the control of the Company. These forward looking
statements are subject to a number of risks and uncertainties,
including those factors discussed in the Company’s filings with the
SEC, including in the “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations”
sections of the Company’s most recently filed periodic reports on
Form 10-K and Form 10-Q and subsequent filings. If the risks
materialize or assumptions prove incorrect, actual results could
differ materially from the results implied by these forward-looking
statements. These forward-looking statements are subject to a
number of risks and uncertainties, including Billtrust’s and
iController’s ability to realize the anticipated benefits and
synergies of the acquisition. There may be additional risks the
Company presently does not know or that they currently believe are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect the Company’s expectations,
plans or forecasts of future events and views as of the date of
this press release. The Company anticipates that subsequent events
and developments will cause its assessments to change. However,
while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing the Company’s assessments
as of any date subsequent to the date of this press release.
Accordingly, undue reliance should not be placed upon the
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20211012005298/en/
Investor Contact John T. Williams IR@billtrust.com
Media Contact Meredith Simpson msimpson@billtrust.com
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