Billtrust acquires Belgian company for $58M

Billtrust, the Lawrenceville-based business-to-business payments company, has acquired a Belgian collections solutions business for $58 million, it announced Tuesday.

The cash deal for iController gives Billtrust a Software-as-a-Service provider serving credit and collections managers and more.

“Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers,” founder and CEO Flint Lane said in a prepared statement.

Founder and CEO Peter Janssens and the iController team will continue to operate from the company’s offices in Belgium and the Netherlands.