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Bottomline to buy two companies

Bottomline Technologies (Nasdaq: EPAY) will buy a pair of privately-held companies for $90 million.

After market close Monday, the vendor of software for electronic payments and banking said it would buy Checkpoint Holdings, a British provider of online payment software, for $15 million cash, 1.35 million shares, a warrant to buy another 100,000 at $50 each and a $20 million promissory note. The deal is valued at roughly $78 million. Bottomline expects the deal to lower its earnings per share in fiscal 2001, and increase them afterward.

Bottomline will also buy Flashpoint, a Boston-based software developer, for $4.5 million cash and $7.5 million in stock.

Checkpoint boosts Bottomline's presence in the United Kingdom and Europe in general, the companies said. Checkpoint has more than 3,000 customers, including 95 of the 100 largest British companies, as measured by the Financial Times.

Flashpoint has worked with Bottomline in developing Web-based software, including the NetTransact billing and payment product.

Shares of Bottomline fell 5/8 to 30 1/4 in Monday's regular trading, prior to the announcements.>