ACI Worldwide, an electronic payment systems company, is in the process of acquiring electronic payment solutions provider Official Payments Holdings, Inc. The all-cash transaction has an enterprise value of approximately $109 million.
Official Payments currently has more than 3,000 customers, representing access to more than 100 million end users. The company processes approximately 20 million payments totaling more than $9 billion in annual volume.
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“Official Payments’ proven team, loyal user base and vertical expertise make it an ideal match for ACI,” said Philip Heasley, President and CEO of ACI Worldwide. The acquisition will expand ACI’s portfolio “across key sectors including federal, state and local governments, municipal utilities, higher education institutions and charitable giving organizations.”
