ACI Worldwide acquired Official Payments Holdings, Inc. for approximately $109 million (enterprise value; $8.35 per share), a transaction completed in November 2013, structured as all cash.
Official Payments Holdings, Inc. operates in Bill payment / EBPP, is based in Norcross, Georgia (United States). ACI acquired Official Payments Holdings (Nasdaq: OPAY) via an all-cash tender offer at $8.35 per share, valuing the company at an enterprise value of approximately $109 million. Norcross, Georgia-based Official Payments was a leading electronic bill-payment provider serving federal, state and local governments, municipal utilities, higher-education institutions and charitable-giving organizations, with more than 3,000 customers, roughly 20 million payments and over $9 billion in volume processed annually.
The deal extended ACI's leadership in the fast-growing EBPP space and expanded its portfolio across key public-sector and utility verticals under the Universal Payments strategy.
More than 3,000 customers and access to over 100 million end users across public-sector verticals. Expected to be accretive to full-year 2014 earnings. ACI Universal Payments platform
Official Payments' proven team, loyal user base and vertical expertise make it an ideal match for ACI. The acquisition will further extend ACI's leadership in the fast-growing EBPP space, expanding our portfolio across key sectors including federal, state and local governments, municipal utilities, higher education institutions and charitable giving organizations.Philip Heasley, President and CEO, ACI Worldwide
This acquisition marks the next step in the evolution of electronic bill payments, an industry in which ACI Worldwide is at the forefront. I'm excited about integrating Official Payments into the broader ACI Universal Payments strategy and portfolio.Alex Hart, CEO, Official Payments
Advisory firms were not disclosed for this transaction.