BTRS Holdings Inc, who is the owner of Billtrust announced on Wednesday that it will be acquired by EQT Private Equity.
The estimated valuation is nearly $1.7 billion.
Billtrust main business is to provide a cloud-based software.
It helps businesses shifted from paper invoicing to an integrated digital payments system.
The data available on its website, according to that It employs more than 760 people in seven countries.
EQT is a portfolio management company, which manages $73.91 billion in assets as of June 30 this year, with portfolio companies in Europe, Asia-Pacific and the Americas.
Shareholders of the business payments vendor will receive $9.50 per share in cash upon the closing of the transaction, a 64% premium to its last closing price.
By the announcement of this deal in early trade the share of BTRS soared 60.1%.
In Feb 2021 BRTS share touched all time high around $20, from there stock corrected almost 70%. In may 2022 stock has touched a low of $3.95.
During those period Shares of other digital payment giants have also been crashed.
PayPal Holdings Inc has shed 50%, while Block Inc has plummeted more than 60% so far this year.
Yesterday the sthare of BRTS closed at $5.77, and today after the deal announcement share is trading around $9.20 price level.