ACI Worldwide Completes Acquisition of Official Payments
05 Novembro 2013 - 11:00AM
Business Wire
Expands industry presence while providing
significant growth opportunity
ACI Worldwide (NASDAQ: ACIW), a leading international provider
of electronic payment systems, announced today it has completed the
acquisition of Official Payments Holdings, Inc. (NASDAQ: OPAY), a
leading provider of electronic bill payment solutions. Under the
terms of the agreement, ACI Worldwide acquired Official Payments in
an all-cash transaction for $8.35 per share.
Norcross, GA-based Official Payments provides bill payment
solutions to federal, state and local governments, municipal
utilities, higher education institutions and charitable giving
organizations. Official Payments currently has more than 3,000
customers representing access to over 100 million end users. The
company processes approximately 20 million payments and over $9
billion in volume annually.
“We are excited to welcome Official Payments into the ACI
family. The addition of Official Payments’ talented team and
product portfolio furthers strengthens ACI’s leadership position
within the electronic bill payment market,” said Philip Heasley,
President and CEO, ACI Worldwide. “We are fully committed to
serving Official Payments’ customer base and delivering them the
industry’s best support, services and solutions, key tenets of our
Universal Payments strategy of providing a complete set of
end-to-end payment services.”
Commitment to customers
ACI also announced that consistent with its long-standing
lifecycle management policy, the company is committed to
maintaining multi-year roadmaps and contractual commitments to
Official Payments’ customers. Official Payments’ customers will
benefit from ACI’s size and scale to support current and future
initiatives. ACI invests 18 percent of revenues in R&D,
significantly ahead of industry averages. The company also provides
a world-class hosting environment, as well as global 24x7x365
support.
Completion of the tender offer
ACI Worldwide successfully completed its tender offer for common
stock of Official Payments, which expired at 12:00 midnight, New
York City time, Monday, November 4, 2013.
Based on information from Computershare Trust Company, N.A., the
depositary for the offer, as of the expiration of the offer,
11,263,992 shares (excluding 332,228 shares that were tendered
pursuant to guaranteed delivery procedures) were validly tendered
and not withdrawn in the offer. These shares represent 67.3 percent
of Official Payments' issued and outstanding shares. Shares not
purchased in the offer will be converted into $8.35 per share
pursuant to a merger being completed today in accordance with the
previously announced merger agreement (except for shares, if any,
held by shareholders who exercise appraisal rights under Delaware
law). Following the merger, the Official Payments shares will be
delisted and will cease to trade on the NASDAQ.
About ACI Worldwide
ACI Worldwide powers electronic payments and banking for more
than 2,600 financial institutions, retailers, billers and
processors around the world. ACI software enables $13 trillion in
payments each day, processing transactions for more than 250 of the
leading global retailers, and 18 of the world’s 20 largest banks.
Through our comprehensive suite of software products and hosted
services, we deliver a broad range of solutions for payments
processing; card and merchant management; online banking; mobile,
branch and voice banking; fraud detection; trade finance; and
electronic bill presentment and payment. To learn more about ACI,
please visit www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
Forward-Looking Statements
This press release contains forward-looking statements based on
current expectations that involve a number of risks and
uncertainties. All statements, other than statements of historical
fact, are statements that could be deemed forward-looking
statements, including statements about the planned completion of
the tender offer and the merger. No forward-looking statement can
be guaranteed and actual results may differ materially from those
that ACI and Official Payments project. Numerous risks,
uncertainties and other factors may cause actual results to differ
materially from those expressed in any forward-looking statement,
many of which are outside of the control of management. These
factors include, but are not limited to: (1) negative effects on
ACI's business or OPAY's business resulting from the pendency of
the transaction; (2) that ACI may not achieve the synergies and
other expected benefits within the expected time or in the amounts
it anticipates; (3) that ACI may not be able to promptly and
effectively integrate the merged businesses; and (4) other factors
described in ACI's and Official Payments' filings with the SEC,
including their respective reports on Forms 10-K, 10-Q and 8-K.
Except to the extent required by applicable law, neither ACI nor
Official Payments undertakes any obligation to revise or update any
forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future results
or otherwise.
© Copyright ACI Worldwide, Inc. 2013.
ACI, ACI Payment Systems, ACI Universal Payments, the ACI logo
and all ACI product names are trademarks or registered trademarks
of ACI Worldwide, Inc., or one of its subsidiaries, in the United
States, other countries or both. Other parties’ trademarks
referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality and enhancements are at the
sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code or functionality, and
should not be relied upon in making a purchasing decision.
ACI WorldwideJohn Kraft, 239-403-4627Vice President, Investor
Relations & Strategic Analysisjohn.kraft@aciworldwide.com
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