Bottomline Technologies to Acquire Optio Software

Business Wire,  March 3, 2008  

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Business Combination to Expand Transactional Document Automation Capabilities

PORTSMOUTH, N.H. -- Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced it has entered into an agreement to acquire Optio Software (OTCBB:OPTO.OB), a provider of technology solutions for improving the efficiency of document-intensive processes.

The acquisition is expected to extend Bottomline's leadership position as a provider of advanced capabilities for transactional document automation. The proposed transaction, which has been approved by the Board of Directors of both companies, is subject to Optio Software shareholder approval and other standard closing conditions. The agreement, valued at $44.9 million, is expected to close during Bottomline's fiscal fourth quarter and be accretive to fiscal 2009 earnings.

"We look forward to welcoming Optio's customers, business partners and employees to Bottomline. We believe the combination of Optio's technology and solutions with Bottomline's existing capabilities will allow us to deliver greater value to customers in the future," said Rob Eberle, President and CEO of Bottomline Technologies. "Optio will bring a significant customer and maintenance base, and strong vertical presence and domain expertise in healthcare, including more than 700 hospitals and healthcare organizations."

"In addition to the strategic benefits, we expect the acquisition will have a meaningful impact on our future financial results," said Kevin Donovan, CFO of Bottomline Technologies. "With significant recurring revenues of approximately 60% and a plan to fully integrate the company, we expect the transaction will produce positive, long-term results for our customers and stockholders alike."

Headquartered in Alpharetta, GA, Optio Software serves a global customer base with offices in the United Kingdom, France, the Netherlands and Germany. The company's products integrate with industry-leading ERP systems and hospital information systems (HIS) to automate and accelerate the creation, distribution, storage and exchange of transactional business

documents and health records. More than 5,500 customers around the globe leverage Optio's products. Customers include Motorola, Home Depot, Sony, Liz Claiborne, Mercy Health Center, Herbalife International, Midwest Health Systems and Pendragon PLC.

"Bottomline and Optio Software share a common vision for how organizations can improve the performance of critical business functions by accelerating the transition from paper- to electronic-based processes," said Wayne Cape, President and CEO of Optio Software. "We believe that the combination of the two organizations, with their complementary solutions, extensive domain expertise and broad customer bases, will create exciting new opportunities for customers seeking to maximize the strategic value associated with the automation and improvement of document-intensive business processes."

Bottomline Technologies will host a call today, Monday, March 3, 2008 at 8:30 a.m. EST to discuss the acquisition. The call can be accessed by dialing 877-777-1972 in the United States or 612-338-9017 internationally.

A digital replay of the conference call will be available from 8:00 A.M. EST on March 4, 2008 through Midnight EDT on March 11, 2008. The replay can be accessed by dialing U.S. 800-475-6701 or International 320-365-3844, Access Code #: 914106. The conference call will also be available live at www.bottomline.com. Following the call, a replay will be available on the Web site and will remain accessible for a period of three months.

About Bottomline Technologies

Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice, and document automation solutions to corporations, financial institutions and banks around the world. The company's solutions are used to streamline, automate and manage processes and transactions involving global payments, invoice approval, purchase-to-pay, collections, cash management and document process automation. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.

Safe Harbor for Forward-Looking Statements

Statements in this press release regarding the proposed transaction between Bottomline and Optio Software, the expected timetable for completing the transaction, future financial and operating results, benefits and synergies of the transaction, plans to integrate Optio Software with Bottomline and future opportunities for the combined company and any other statements about Bottomline or Optio Software managements' future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to consummate the transaction, including the ability to obtain approval of the transaction by Optio Software's shareholders; the ability of Bottomline to successfully integrate Optio Software's technology, operations and employees; the ability to realize anticipated synergies and cost savings; and the other factors described in Bottomline's Annual Report on Form 10-K for the fiscal year ended June 30, 2007 and its most recent quarterly report filed with the SEC and in Optio Software's Annual Report on Form 10-K for the fiscal year ended January 31, 2007 and its most recent quarterly report filed with the SEC. Bottomline and Optio Software disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.