Payments solutions provider Bottomline has acquired real estate payments software company Nexus Systems for an undisclosed amount.
This acquisition will combine Nexus’ capabilities, customers and suppliers with Bottomline’s Paymode-X B2B payments network, extending the network’s capabilities in the real estate vertical.
Paymode-X processes over US$300 billion in payments annually on behalf of over 500,000 businesses. The service has been named “Market Leader” in Ardent Partners’ ePayables Technology Advisor report.
Nexus Systems specialises in accounts payable and payments automation software for the real estate and property management industries. Mainsail Partners was its only private equity investor prior to the transaction.
“We continue to proactively invest in a world class platform of businesses paying and getting paid digitally, combining Nexus’ commercial real estate expertise with the scale of the Paymode-X network,”
said Craig Saks, CEO, Bottomline.
“Nexus and Paymode-X share a vision to automate the entire real estate and property management accounts payable process, across procure-to-pay, with one solution.
We strengthen that commitment to customers by accelerating the NexusPayables roadmap, providing immediate access to Bottomline’s extensive capabilities, and enabling them to pay over 500,000 vendors across the Paymode-X network,”
said Tom Coolidge, CEO, Nexus Systems.