ACI Worldwide To Acquire Official Payments Holdings For $109 Mln - Quick Facts

(RTTNews) - ACI Worldwide (ACIW), a developer of software products and services for electronic payments, has agreed to acquire Official Payments Holdings, Inc. (OPAY) for $8.35 per share cash in a transaction valued at an enterprise value of about $109 million. Both the companies' boards have unanimously approved this transaction. ACI Worldwide would begin a cash tender offer to buy all outstanding shares of Official Payments on or about October 4, 2013.

Further, in connection with the execution and delivery of the merger deal, ACI Worldwide and Olympic Acquisition Corp. reached a separate agreement with a fund affiliated with Parthenon Capital Partners, which owned 10.8% of Official Payments' outstanding shares as of May 6, 2013, based on the Schedule 13D filed by Parthenon with the SEC on May 9, 2013.

The tender offer would expire at 12:00 midnight New York City time, 20 business days after the tender is commenced unless extended in accordance with the transaction agreement and the applicable rules and regulations of the SEC. The tender offer may close in the fourth quarter of 2013.