US financial software vendor Bottomline Technologies has acquired the assets of A1 Software, a UK provider of electronic funds transfer (EFT) software and managed payment services, for an undisclosed sum.
A1 has over 1800 users, or four per cent of the UK market, for its payment software and managed services. The firm is also licensed as a Bacs-approved bureau service and a supplier of registered Bacs software.
Peter Fortune, president, Bottomline Technologies Europe, says: "The addition of A1's Bacs accredited payment bureau operation to our business will give us the opportunity to offer new managed payment and disaster recovery services to our own customers."
Fortune adds that Bottomline will be able offer A1 customers with upgrade solutions to migrate to the new Bacstel-IP service. All companies using the UK ACH will need to upgrade by 2005.