Sedgwick Acquires Bottomline’s Legal Spend Management Business

Sedgwick is acquiring Bottomline’s legal spend management division.

Sedgwick plans to operate the LSM business as a separate division, and the company anticipates transitioning roughly 300 LSM employees. The transaction is subject to customary conditions and regulatory approvals.

The LSM business services the property/casualty insurance industry, providing carriers, third-party administrators, self-insured entities and corporate legal departments with cloud-based software applications and legal bill review services.

Bottomline is a provider of business payments and cash management. It is a portfolio company of Thoma Bravo, a software private equity firm.

Sedgwick is a provider of claims management, loss adjusting and technology-enabled business services.