B2B order-to-cash outfit Billtrust has agreed to be acquired by EQT Private Equity in an all-cash deal valuing its equity at nearly $1.7 billion.
Billtrust shareholders will receive $9.50 per share in cash, a more than a 64% premium above the closing share price of $5.77 on 27 September 27.
Founded in 2001, Billtrust provides cloud-based software and integrated payment processing solutions that are designed to simplify and automate B2B commerce.
The firm went public early last year via a Spac deal but has seen its share price fall nearly 70% from a February 2021 peak.
News of the deal sent shares soaring nearly 60% to over $9 morning trading.