SaaS legal spend management

Bottomline Technologies, a provider of collaborative payment, invoice and document automation software, has agreed to acquire Allegient Systems, which offers solutions for legal e-billing, bill review and analytics. Allegient’s proprietary software as a service (SaaS) platform and value-added turnkey solutions will complement and extend Bottomline’s Legal eXchange platform.

Bottomline’s products are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents.

The all-cash transaction is valued at $48 million subject to closing balance sheet adjustments.