ACI Worldwide (ACIW) Completes S1 Acquisition
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ACI Worldwide, Inc. (Nasdaq: ACIW), a leading international provider of payment systems, today announced that it has accepted for payment all shares of S1 Corporation (Nasdaq: SONE) common stock tendered in the previously announced exchange offer.
ACI intends to acquire the remaining S1 shares pursuant to a merger as provided in the October 3, 2011 transaction agreement between ACI and S1. In the merger, all remaining publicly held shares of S1 common stock not purchased in the exchange offer will be converted into the right to receive $6.62 in cash, without interest, and 0.1064 of a share of ACI common stock, less any required withholding taxes. Following completion of the exchange offer and the merger, S1 will be a subsidiary of ACI and its shares will no longer be publicly traded.
ACI intends to acquire the remaining S1 shares pursuant to a merger as provided in the October 3, 2011 transaction agreement between ACI and S1. In the merger, all remaining publicly held shares of S1 common stock not purchased in the exchange offer will be converted into the right to receive $6.62 in cash, without interest, and 0.1064 of a share of ACI common stock, less any required withholding taxes. Following completion of the exchange offer and the merger, S1 will be a subsidiary of ACI and its shares will no longer be publicly traded.
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