ACI Gains another Foothold in Bill Pay with $109 Million Acquisition (Sept. 24, 2013)
Sept. 24, 2013
Payment systems provider ACI Worldwide has bolstered its position in the bill payment business with the $109 million acquisition of Official Payments Holdings Inc., which provides bill payment solutions to federal, state and local governments, utilities, higher education institutions and charitable organizations throughout the U.S. Based in Norcross, Ga., Official Payments has more than 3,000 clients representing a total of more than 100 million end users. The company processes about 20 million payments and more than $9 billion in payment volume annually.
“The acquisition will further extend ACI’s leadership in the fast-growing electronic bill payment space, expanding our portfolio across key sectors,” said Philip Heasley, president and CEO, ACI Worldwide. The purchase transaction is expected to close during the fourth quarter of this year.
The deal is the second big-ticket acquisition of an electronic bill payment specialist this year for Naples, Fla.-headquartered ACI. In January, the company shelled out $263 million for Online Resources Corp., a provider of online banking and full-service bill pay solutions.