NEW YORK – ACI Worldwide said it has extended its exchange offer for the shares of S1 Corp. until Feb. 10 as the U.S. Department of Justice continues to review the antitrust implications of the deal.
The two companies entered into an agreement with the Justice Department to permit the DOJ additional time to review the information furnished by ACI and S1 under the U.S. premerger clearance laws of the Hart-Scott-Rodino Act. The DOJ has not completed its review of the information provided by the parties and requested an extension of time beyond Jan. 31.
ACI and S1 have each certified their compliance with the DOJ’s previously announced second request for information, which is focused on the card payments business. In 2010, S1’s card payments business generated approximately $11.9 million in revenue in the U.S.
ACI has agreed to acquire S1 for approximately $360 million in cash and 5.8 million ACI shares.
