Jan. 31, 2013
Banking and payments technology giant ACI Worldwide has signed an agreement to acquire Online Resources, an online banking and billpay solutions provider.
According to the announcement of the transaction, the combined ACI Worldwide and Online Resources will be able to offer financial institutions a comprehensive solution for online and mobile banking, bill payment and presentment services.
In acquiring Online Resources, ACI Worldwide adds more than 1,000 banks, credit unions, billers, credit card issuers, and other credit and payment service providers to its client roster.
"ACI Worldwide's mission is to deliver universal payment solutions that provide control, choice and flexibility to our customers while maintaining their peace of mind," said Philip Heasley, president and CEO of ACI Worldwide. "Online Resources' robust product set and talented employee base of online banking and payment experts is well-aligned with this focus and our desire to lead in a category undergoing accelerating change."
Online Resources processes more than 245 million billpay transactions annually. The company's bill payment solutions connect over 9,000 billers and more than 1,000 financial services providers.
"I believe the combination of the two companies will allow the Online Resources product suite to now achieve its full potential in the banking and biller markets [and] provide even better services and functionality for our clients and customers," said Joe L. Cowan, president and CEO of Online Resources.
ACI will buy Online Resources in an all-cash transaction for $3.85 per share, the companies said. The sale will close in the first quarter of 2013. ACI Worldwide said the transaction is expected to be accretive to full-year non-GAAP earnings in 2013.
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