NEW YORK ACI Worldwide has agreed to acquire Official Payments, a provider of electronic bill payment services, for $109 million in cash.
Philip Heasley, president and CEO, ACI Worldwide said the acquisition will expand the firm's position in the electronic bill presentment and payment space and extend its footprint to new industry sectors. “The acquisition...supports our corporate universal payments strategy of providing a complete set of end-to-end payment services, all enabled by our universal payments platform," he said.
The deal comes after ACI Worldwide acquired online banking and bill payments specialist Online Resources earlier this year, and S1 Corp. in 2012.
Official Payments, based in Norcross, Ga., has more than 3,000 customers representing access to more than 100 million end users. The company processes approximately 20 million payments and more than $9 billion in volume annually, serving federal, state and local governments, municipal utilities, higher education institutions, and charities.
