ACI Worldwide Completes Acquisition Of Official Payments

Expands industry presence while providing significant growth opportunity

ACI Worldwide, a leading international provider of electronic payment systems, announced recently it has completed the acquisition of Official Payments Holdings, Inc., a leading provider of electronic bill payment solutions. Under the terms of the agreement, ACI Worldwide acquired Official Payments in an all-cash transaction for $8.35 per share.

Norcross, GA-based Official Payments provides bill payment solutions to federal, state and local governments, municipal utilities, higher education institutions and charitable giving organizations. Official Payments currently has more than 3,000 customers representing access to over 100 million end users. The company processes approximately 20 million payments and over $9 billion in volume annually.

“We are excited to welcome Official Payments into the ACI family. The addition of Official Payments’ talented team and product portfolio further strengthens ACI’s leadership position within the electronic bill payment market,” said Philip Heasley, President and CEO, ACI Worldwide. “We are fully committed to serving Official Payments’ customer base and delivering them the industry’s best support, services and solutions, key tenets of our Universal Payments strategy of providing a complete set of end-to-end payment services.”

Commitment to customers
ACI also announced that consistent with its long-standing lifecycle management policy, the company is committed to maintaining multi-year roadmaps and contractual commitments to Official Payments’ customers. Official Payments’ customers will benefit from ACI’s size and scale to support current and future initiatives. ACI invests 18 percent of revenues in R&D, significantly ahead of industry averages. The company also provides a world-class hosting environment, as well as global 24x7x365 support.

Completion of the tender offer
ACI Worldwide successfully completed its tender offer for common stock of Official Payments, which expired at 12:00 midnight, New York City time, Monday, November 4, 2013.

Based on information from Computershare Trust Company, N.A., the depositary for the offer, as of the expiration of the offer, 11,263,992 shares (excluding 332,228 shares that were tendered pursuant to guaranteed delivery procedures) were validly tendered and not withdrawn in the offer. These shares represent 67.3 percent of Official Payments' issued and outstanding shares. Shares not purchased in the offer will be converted into $8.35 per share pursuant to a merger being completed today in accordance with the previously announced merger agreement (except for shares, if any, held by shareholders who exercise appraisal rights under Delaware law).  Following the merger, the Official Payments shares will be delisted and will cease to trade on the NASDAQ.

About ACI Worldwide
ACI Worldwide powers electronic payments and banking for more than 2,600 financial institutions, retailers, billers and processors around the world. ACI software enables $13 trillion in payments each day, processing transactions for more than 250 of the leading global retailers, and 18 of the world’s 20 largest banks. Through our comprehensive suite of software products and hosted services, we deliver a broad range of solutions for payments processing; card and merchant management; online banking; mobile, branch and voice banking; fraud detection; trade finance; and electronic bill presentment and payment. For more information, visit www.aciworldwide.com.