ACI Worldwide to Acquire S1 Corporation
ACI Worldwide and S1 Corporation have entered into a definitive transaction agreement that will create a full-service provider of financial and payments solutions. Under the agreement, ACI will acquire S1 for a blended value of US$9.55 per share as of 30 September 2011, consisting of US$6.62 per share in cash and 0.1064 shares of ACI common stock, assuming full proration, which represents an increase of US$0.42 per share in cash from ACI’s previous offer. The boards of directors of both companies have approved the transaction.
“We are pleased to have reached this agreement with S1, and believe that together we will create a leader in the global enterprise payments industry,” said Philip Heasley, president and chief executive officer (CEO) of ACI. “The combined company will have enhanced scale, breadth and additional capabilities, as well as a complementary suite of products that will better serve the entire spectrum of financial institutions, processors and retailers. Stockholders of both companies will benefit from the significant upside potential of a larger, more diversified company that is strongly positioned in a wide range of markets.”