Menu
Banking Exchange Magazine Logo
Menu

ACI Sells Corporate Banking Service to Private Equity

One Equity Partners has renamed the online service provider after the purchase

  • |
  • Written by  Banking Exchange staff
ACI Sells Corporate Banking Service to Private Equity

Payment technology company ACI Worldwide has sold its corporate online banking solutions business to private equity firm One Equity Partners (OEP) in a $100 million cash deal.

The New York-based middle market private equity firm has acquired ACI Digital Business Banking Solutions, which will operate under the new name Dragonfly Financial Technologies. It currently facilitates more than $1 billion a day in payments for “global blue-chip banks”, OEP said in a statement.

The technology can be deployed both on-premises or through the cloud, allowing corporate banking customers to initiate payments, collect money owed, and manage financial positions and operations.

Ante Kusurin, principal of One Equity Partners, said: “[We have] extensive experience in executing complex carve-out transactions. When evaluating corporate assets, we seek companies with strong fundamentals that will allow them to thrive as independent businesses.

“In this case, we are acquiring an established business from a leader in the technology sector with a strong management team, attractive product offering, blue-chip customer base, and significant market opportunity for continued growth.”

ACI said its technology played a key role in the day-to-day business of large financial institutions and intermediaries, with global merchants relying on the technology to execute $14 trillion each day in payments and securities.

Odilon Almeida, president and CEO of ACI Worldwide, said the sale would allow ACI “to better focus on serving our customers by expanding our core software portfolio to drive real-time payments globally and leverage the full benefits of cloud-native technology”.

“Our efforts to accelerate organic growth are firmly on track, and we are now making progress on the third pillar, step-change value creation through M&A,” Almeida added. “The divestment is in line with our commitment to continually review the company’s portfolio to maximize shareholder value.”

back to top

Sections

About Us

Connect With Us

Resources

WEBINAR:

Belt and Suspenders

Date/Time: October 19, 2:00 CT / 3:00 ET

How Multiple Layers of Defenses Work Together to Keep Your Bank Covered

Cyber threats and attack vectors are ever-changing, especially due to the current geopolitical climate and distribution of data. Financial institutions remain attractive targets for cyber criminals due to the amount of sensitive data they hold. Join CSI’s Director of Product Strategy, Sean Martin, for his insight into why and how institutions should embrace a holistic cybersecurity approach to strengthen their defenses against these evolving threats. You’ll learn: 

REGISTER NOW!

This webinar is brought to you by:
OneSpan logo