ACI Promises to Maintain ORCCs Bank Projects
Payment systems provider ACI Worldwide (ACIW) has completed its acquisition of Online Resources Corporation (ORCC) in an all-cash transaction for $3.85 per share. But the deal should not impact ORCC's ongoing projects with its financial institution clients, ACI said.
ACI will maintain multi-year roadmaps and contractual commitments to Online Resources' customers. ACI invests about 18% of its revenue in research and development, the company said.
The Online Resources acquisition is expected to provide electronic bill presentment and payment technology to ACI's Universal Payments Portfolio and will bolster ACI's online banking technology by adding Online Resources' menu of digital banking technology, which includes the Princeton eCom payment service.
Online Resources recently began offering a mobile browser bill pay service that allows consumers to make payments using a mobile phone. ACI also offers other banking and payments technology via its controversial purchase of S1 — a deal that gave ACI personal financial management, electronic bill payment and presentment, account transfer, alerts and other online self-service tools.
ACI Worldwide sells software products and hosted services for payments processing, card and merchant management, online banking, mobile banking, branch automation, voice banking, fraud detection and trade finance. The company supports electronic payments and banking for more than 1,750 financial services clients, and enables about $13 trillion in payments each day including transactions for more than 250 global retailers and 18 of the world's 20 largest banks. Online Resources has more than 1,000 financial institution and billing customers.