ACI Worldwide has completed its acquisition of Online Resources Corporation, a provider of online banking and full service bill pay solutions. The acquisition adds electronic bill presentment and payment (EBPP) solutions to ACI’s Universal Payments portfolio. The vendor said that its online banking capabilities would also be strengthened with complementary technology, expanding ACI’s payment services to community banking and credit union customers in the US and elsewhere.
Under the terms of the agreement, ACI acquired Online Resources in an all-cash transaction for $3.85 per share, meeting the projected $260m approximate deal figure predicted by Bobsguide when news of the acquisition fist broke.
“Driven by the increase in electronic transactions from online and mobile banking, bill pay is becoming a major pivot point and area of strategic investment for our customers,” said Philip Heasley, president and chief executive officer (CEO) of ACI Worldwide.
“With the addition of Online Resources’ capabilities, customers can rely on ACI as an end-to-end, integrated provider addressing the full range of payment needs including: wholesale and retail payments, payments fraud, online banking, merchant retail and now bill pay.”