Online account opening pioneer Andera will be sold toBottomline Technologies for approximately $48 million in cash andstock.

Andera, launched by CEO Charlie Kroll as an outgrowth of hisconsulting work with a Providence, R.I., bank, began signingcredit unions to its new platform in 2004.

The company expanded into marketing, anti-fraud and compliancesolutions, and in 2011 bought oFlows, a San Francisco-basedprovider of paperlessorigination solutions. Andera now has more than 500 creditunion and bank customers who have processed more than 4.5 millionnew account applications online, Bottomline said in itsannouncement Monday.

Based in Portsmouth, N.H., Bottomline is a global provider ofcloud-based payment, invoice and digital banking solutions tofinancial institutions and other corporations.

“Our strategy is to help financial institutions grow byacquiring and deepening customer relationships through digitalchannels. Andera's innovative solutions will enable our clients togrow revenues and compete and win in digital banking,” said NormDeLuca, general manager of banking and financial services.

Kroll said, “Bottomline's market position as a leading providerin digital banking will allow our company to go to the next level.Jointly, we share a commitment to innovation, the opportunity ofthe digital channel and to delivering customer delight.”

The announced purchase price was approximately $44.5 million incash and 102,000 shares of Bottomline stock, worth approximately$3.6 million. Bottomline trades as EPAY on Nasdaq.