-
The CEOs of Fundtech and BankServ, authors of a controversial deal, outline their plans to become a payments processor for businesses that operate around the world.
September 23 -
Payments firm S1, jilted by Fundtech, needs to find a new merger partner to stay competitive and please shareholders. A long line of prospective suitors awaits.
September 21 -
The payments technology firm Fundtech can still expand but spend more on R&D and invest for the long term, an executive explains.
September 19
ACI Worldwide Inc. has extended its exchange offer for shares of S1 Corp. until Oct. 31. The offer, which has a blended value of $9.44 per share, was set to expire September 28.
ACI and S1's board have been involved in a pitched battle for control of S1 since July, when ACI launched its hostile bid for the rival vendor.
The bid attempted to derail a merger S1, of Norcross, Ga., had planned with Fundtech Ltd. That merger, which fell apart for other reasons, would have created an end-to-end payments company that specialized in corporate treasury and trade finance.
Fundtech
As of Tuesday, ACI said 12,965,097 shares of S1 common stock had been tendered in the exchange offer.
In conjunction with its extension, ACI, which is based in New York, withdrew its previous bid under Hart-Scott-Rodino Antitrust Improvements Act, but will file it again Wednesday.
