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TransactionWatch – Week of November 8th – November 12th

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M&A activity continues to roll ahead this week with a couple notable deals as well as a SPAC merger announcement. To start, Bottomline announced this week their acquisition of Bora Payments Systems for $15 million in cash. This deal is positioned around Bottomline’s Paymode-X offering, which will now enable vendors to take advantage of straight through processing for virtual card acceptance. In addition, this acquisition also brings new bank channel connections to Paymode-X and their subsequent vendors. Separately, Flutterwave, a leading African fintech provider, announced their deal to acquire Disha for an undisclosed sum. This deal marks Flutterwave’s first public acquisition announcement since their launch in 2016. Disha, which is ultimately an online marketplace, will continue to be an independent product and operation; however, Flutterwave will likely integrate their payment processing services into the platform to help accelerate their growth across Africa.

In other M&A news, the restaurant point-of-sale (POS) vendor, Presto, announced their merger with Ventoux CCM Acquisition Corp. as a means to become publicly traded on the Nasdaq. As a result of this merger, the combined company has an estimated value of approximately $1 billion. This deal is subject to shareholder approval and regulatory review; however, it is expected to close in the first half of 2022.