Acquisition will expand Fiserv suite of digital banking and payments
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that it has entered into a
definitive agreement with ACI Worldwide (NASDAQ: ACIW), a leading global
provider of electronic payment and banking solutions, to acquire the
assets of its Community Financial Services (CFS) business in an all-cash
transaction valued at $200 million, which does not include related tax
benefits. The transaction is subject to regulatory approval and other
customary closing conditions and is anticipated to close in the first
quarter of 2016.
The assets acquired provide financial institutions with a suite of
digital banking and electronic payments solutions including Architect
Banking, which supports online, mobile, and tablet banking for retail
banks and small business customers on a single platform.
"We are pleased to add these strong digital banking capabilities which
will further enable financial institutions to serve their customers in
today's dynamic world," said Jeffery Yabuki, President and Chief
Executive Officer, Fiserv. "We are also excited to add a talented team
of associates who share our vision for creating value for clients
through innovation and service excellence."
Technology solutions included in the transaction are ACI's Architect
Banking, SSB Internet Banking, WebFederal Internet Banking and Advantage
Internet Banking solutions; Advantage Consolidated Bank Bill Pay; and
ACI Defense Services, a full-service security solution.
"We are proud of the talented people and proven solutions within our CFS
business," said Phil Heasley, President and Chief Executive Officer, ACI
Worldwide. "We are confident that CFS clients will be well-served by
Fiserv and its long-standing commitment to creating value for banks and
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the expected timing of the transaction.
Forward-looking statements are subject to assumptions, risks and
uncertainties that may cause actual results to differ materially from
those contemplated by such forward-looking statements. The factors that
may adversely impact the anticipated outcomes include, among others: the
occurrence of any event, change or other circumstances that could give
rise to the termination of the transaction agreement; the outcome of any
legal proceedings that may be instituted against the parties or others
related to the transaction agreement; conditions to the completion of
the transaction may not be satisfied, or the regulatory approvals
required for the transaction may not be obtained on the terms expected
or on the anticipated schedule; the parties' ability to meet
expectations regarding the timing, completion and tax benefits of the
transaction may be different than currently planned; and other factors
identified in Fiserv's filings with the SEC from time to time, including
those in its annual report on Form 10-K. You should consider these
factors carefully in evaluating forward-looking statements, and are
cautioned not to place undue reliance on such statements. Fiserv assumes
no obligation to update any forward-looking statements, which speak only
as of the date of this press release.
Fiserv, Inc. (NASDAQ:FISV) enables clients to achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
business insights and optimization. For more than 30 years, Fiserv has
been a leader in financial services technology, and today is among
FORTUNE® magazine's World's Most Admired Companies and Forbes magazine's
America's Best Employers. For more information, visit www.fiserv.com.
About ACI Worldwide
ACI Worldwide, the Universal
Payments (UP) company, powers electronic payments for more than
5,000 organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries as well as 300 of the leading global
retailers rely on ACI to execute $14 trillion each day in payments.
In addition, thousands of organizations utilize ACI electronic bill
presentment and payment services. Through a comprehensive suite of
software and SaaS-based solutions, ACI delivers real-time, any-to-any
payments capabilities and enable the industry's most complete
omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com.
Find ACI on Twitter @ACI_Worldwide.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160120006541/en/
Vice President, Investor
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Source: Fiserv, Inc.
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