SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Dealmakers

The Buyside:
Disney, Warner Bros. Seek Next-Gen YouTubes

Traditional Hollywood studios such as Disney and Warner Bros. are seeking next-generation YouTube content providers

The Buyside

Activist Investors Dig Into Mid Market
Spurred on by the high-profile success of Carl Icahn and others, a growing crop of firms is looking further downstream

Today's Transactions:
In Latest E-Payments Move, ACI Buys Online Resources for $263M

The deal broadens ACI’s e-payment services

ACI Worldwide (Nasdaq: ACIW) has acquired Online Resources (Nasdaq: ORCC), a provider of e-payment services, for $263 million.

The price tag works out to $3.85 per share in cash. Boards of directors from both companies have approved the transaction.

ACI plans to integrate Online into its business to make online and mobile banking, bill payment and other services available to financial institutions. The deal will broaden ACI’s customer base.

Naples, Fla.-based ACI Provides electronic-payment services for financial institutions, retailers and other processors.

Online, headquartered in Chantilly, Va., processes more than 245 billion payment transactions per year, for both financial institutions and other billers.

Jim Bronner of Wells Fargo Securities served as ACI’s financial adviser, while partners Robert Profusek, Thomas Bark and Fionna Schaeffer of Jones Day served as legal counsel. Jim Bunn of Raymond James & Associates Inc. was Online Resources financial adviser. SunTrust Robinson Humphrey Inc. provided financial advice to a special committee of Online’s board of directors, and Morris Manning & Martin LLP served as the counsel’s legal adviser.

The transaction was announced on the heels of Fidelity National Information Services' (NYSE: FIS) agreeing to buy the remaining 78 percent interest in mFoundry, a provider of mobile banking and payments technology, for $120 million. FIS already held a 22 percent interest in mFoundry. The company expects the purchase to close by the end of the first quarter.

Both deals follow a plethora of activity in the e-payments sector. In December, VeriFone Systems Inc. (NYSE: PAY) agreed to acquire Eftpos New Zealand Ltd. and Sektor Group’s payment operations. Also in December, Evo Payments International bought Power Pay; in August Global Payments Inc. (NYSE: GPN) paid $413 million for Accelerated Payment Technologies Inc.; and in July, PayPal, a division of eBay Inc. (Nasdaq: EBAY) grabbed card.io. 

 

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