S1 Enters ATM Management

November 16, 2004, 1:00 a.m. EST 1 Min Read

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ATLANTA - (11/16/04) -- S1 Corp., said it has agreed tacquire Britain-based Mosaic Software Holdings Ltd, a provider ofATM technology for 210 financial institutions, including more thantwo dozen credit unions. S1 said it will pay $37 million up-frontfor Mosaic and as much as $15 million in earn-out payments based oncertain financial targets for the company's fiscal year, ending May31, 2005. S1 provides financial services for more than 4,000financial institutions.

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