HIG Capital sells Allegient Systems to Bottomline Technologies
HIG Capital, a Miami-based private equity investment firm, has completed the sale of Allegient Systems to Bottomline Technologies, a provider of invoice, payment and document automation solutions.
Connecticut-based Allegient is a provider of claims vendor management services. It offers SaaS-based software suite and in-house auditing expertise to manage vendors through bill review cost containment, workflow process improvement and business intelligence.
Rob Wolfson, a managing director at HIG Capital, said that the Allegient team built a leading SaaS-based claims vendor management company that has consistently grown nearly 20% over the last 4 years, almost doubling its revenue.
Allegient CEO John Kelly said that the management at Allegient is excited to join Bottomline and the combination of complementary offerings will create new opportunities for customers and accelerate the delivery of innovative solutions.
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