ACI Worldwide the global leader in mission-critical real-time payment software, announced a definitive agreement to divest its corporate online banking solutions to One Equity Partners (“OEP”), a middle market private equity firm. Marketed as ACI Digital Business Banking, the leading technology platform provides solutions for commercial and business banking customers through an API-driven interface.
Latest Fintech News: Atos and IBM Support European Financial Enterprises and Institutions to Build Trust in the Cloud and Comply With EU Regulations
The divestment aligns with ACI’s three-pillar strategy – fit for growth, focused on growth and step-change value creation – aimed at short- and long-term shareholder value creation.
“Our efforts to accelerate organic growth are firmly on track, and we are now making progress on the third pillar, step-change value creation through M&A. The divestment is in line with our commitment to continually review the company’s portfolio to maximize shareholder value,” said Odilon Almeida, president and CEO of ACI Worldwide.
“We are pleased to have found a strong and strategically driven company to take our corporate online banking solutions to the next level. It allows ACI to better focus on serving our customers by expanding our core software portfolio to drive real-time payments globally and leverage the full benefits of cloud-native technology,” said Odilon Almeida, president and CEO of ACI Worldwide.
Latest Fintech News: ACI Worldwide Advances Instant, Everywhere Economy with Launch of Smart Engage Enabling Shopping-on-the-Go While Boosting Merchant Sales
ACI is shaping the next phase of its industry leadership by innovating its real-time payments platform to help customers, including leading corporations, financial institutions, fintechs and sophisticated merchants, modernize, compete and win. The company is adding rich functionality, leveraging the latest cloud-native principles to speed time to market and deploying multiple models, including SaaS-led offerings.
The transaction includes employees, customer contracts, technology assets and intellectual property. OEP will acquire ACI’s corporate online banking solutions for $100 million in cash. ACI will update financial guidance when the transaction closes and expects the timing to be in Q3 2022.
Latest Fintech News: EDB, Leading Global Provider of Enterprise-Class Software and Services for Postgres, Announces Majority Growth Investment from Bain Capital Private Equity
[To share your insights with us, please write to sghosh@martechseries.com]
