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ACI Makes Offer for S1

Payments provider says proposed deal superior to Fundtech-S1 merger plan.

By Marc Rapport | Updated on July 26, 2011

ACI Worldwide Inc. said Tuesday it is offering to buy S1 Corp. for $540 million, a deal the international provider of payment systems said is superior to Atlanta-based S1’s recently announced plans to merge with Fundtech.

ACI, with U.S. operations based in Elkhorn, Neb., sent a letter to the S1 board offering $9.50 a share in a cash-and-stock transaction valued at approximately $540 million, based on S1’s market price as of Monday. The stock portion of the deal would be tax free to S1 shareholders, ACI said.

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