Fiserv agrees to acquire ACI Worldwide’s Community Financial Services business
Acquisition will expand Fiserv suite of digital banking and payments solutions
BROOKFIELD, WI (January 20, 2016) — Fiserv, 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 credit unions.”
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. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.