Why Shares of Bottomline Technologies Are Surging Today

Shares of Bottomline Technologies (NASDAQ: EPAY) were up by nearly 15% as of 11:22 a.m. ET Friday after the payments company announced that it will soon be acquired in an all-cash deal.

Bottomline Technologies announced that it has agreed to be purchased by private equity company Thoma Bravo for $2.6 billion in cash, valuing each share at $57. At the close of Thursday's session, the stock was trading at $48.92. It's now trading in the neighborhood of $56.21.

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Source Fool.com