Press Release November 02, 2020

Blackline Acquires Rimilia To Add AI-Powered Accounts Receivable Automation To Modern Accounting Platform

The Technology team advised Rimilia on its sale to BlackLine, Inc. (Nasdaq: BL), for $150 million in cash, of which $120 million was payable at close, with additional cash payments of up to $30 million upon certain earnout conditions being met.

Headquartered in the United Kingdom, Rimilia is an AI-powered cloud-based platform that enables accounts receivable (AR) automation and digital transformation. BlackLine is a leader in accounting automation software.

With Rimilia, BlackLine strengthens its position with the Office of the Controller by driving end-to-end automation of the cash lifecycle and ensuring greater data integrity. The acquisition expands BlackLine's capabilities into an adjacent area, adding AR automation to financial close automation and accelerating BlackLine's larger, long-term plan for transforming and modernizing Finance & Accounting.

The Goodwin team was led by Ali Ramadan and included Ella Donegan, Bryce McCullagh, and Leah Black.

For more details, read the press release.