Bottomline Technologies offered to buy Optio this morning. Obviously this is why the company has been so quiet lately. Buy-out price is $1.85 a share. Less than we think OPTIO is worth–but in this market, we will take it.
Bottomline has the cash to do this deal, so the risk here is minimal for the deal not to go through. Nevertheless, we will not wait. Sell at $1.75 a share or better for a 40% gain on this one.