The decision to buy Official Payments helps make ACI Worldwide an even bigger player in the field of EBPP (Electronic Bill Presentment and Payment), according to President and CEO Philip Heasley.
Heasley specifically cited Official Payment’s loyal user base among federal, state, and local governments, as well as higher education institutions, utilities, and charities in the acquisition announcement. The deal prices Official Payments at $8.35 per share for a total enterprise value of $109 million.
Some additional metrics on Official Payments:
- More than 3,000 customers
- More than 100 million end users
- More than 20 million payments processed each year
- More than $9 billion in payment volume processed each year
ACI Worldwide supports the banking and electronic payment needs of more than 2,600 financial institutions, retailers, and billers. Processing transactions for more than 250 of the world’s largest retailers and 18 out of the 20 largest banks, ACI Worldwide facilitates $13 trillion in daily payments.
ACI was a part of the FinovateFall show in New York in 2011, demoing their Mobile Enterprise Banker for Tablets technology. See the company’s presentation here.