Billtrust, a B2B accounts receivable (AR) automation and integrated payments leader, announced today it has acquired iController, a leading B2B provider of intelligent solutions for collections management, for $58 million, financed with cash on hand. Founded in 2007, Belgium-based iController’s software-as-a-service (SaaS) offering enables a wide range of users, from credit and collections managers to CFOs, to see information and communication in real time, providing visibility into cash flow management.
“Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers,” said Flint Lane, Billtrust Founder & CEO.
“We are pleased to welcome Peter Janssens and the entire iController team to Billtrust,” said Steve Pinado, Billtrust President. “With 566 European customers, iController is a powerful resource for credit and collections professionals and a strong strategic fit for Billtrust, expanding our physical presence in the European market while enhancing our global collections capabilities.”