ACI to Buy Online Resources, FIS to Buy mFoundry

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ACI Worldwide and Fidelity National Information Services each announced acquisitions of companies that provide payments technology.

ACI Worldwide announced plans to buy Online Resources Corp., an online banking and payments provider, Jan. 31. ACI plans to purchase Online Resources in an all-cash transaction at $3.85 per share, or about $263 million, which it is financing with a $300 million incremental term loan. ACI expects to purchase all outstanding Online Resources shares by Feb. 15.

"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," said Philip Heasley, President and CEO of ACI Worldwide, in a press release Jan. 30.

FIS separately said Jan. 31 that it has signed an agreement to buy the remaining 78% interest in mFoundry, a provider of mobile banking and payments technology. FIS, which already held a 22% interest in mFoundry, says it expects to pay $120 million in cash to buy the remaining ownership. It expects the purchase to close by the end of the first quarter.

"Consumers have adopted the mobile channel faster than any other delivery channel in existence, and delivering industry-best mobile solutions is a vital focus area for FIS," Gary Norcross, FIS' president and chief operating officer, said in a press release.

 

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