Strategic Carve-out of Leading Technology Platform from ACI Worldwide
NEW YORK—One Equity Partners (“OEP”), a middle market private equity firm, today announced it has agreed to acquire ACI’s corporate online banking solutions, a leading API-driven solution for the banking industry, from ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software.
Upon completing the transaction, the entity will operate independently under the new name, Dragonfly Financial Technologies.
The industry-leading technology marketed as ACI Digital Business Banking Solutions enables blue chip banks worldwide to process over $1 billion in daily payments. The technology deployed on-premise or cloud-based and corporate banking customers to initiate payments, collect money owed, and manage financial positions and operations. As platforms, cloud, and software become the backbone of most modern businesses, the acquisition allows OEP to expand its expertise and exposure to financial technology and the software sector.
“ACI’s corporate banking solution is highly regarded and used by many top-tier banks globally,” said Chip Schorr, Senior Managing Director, One Equity Partners. “We see significant opportunity in this market, as banks continue to invest more in digital transformation.”
The U.S. online commercial banking sector is experiencing tailwinds, including corporations’ increased demand for API-driven automated digital banking and treasury management solutions. Banks are increasingly adopting cloud-based IT ecosystems to accelerate functionality, minimize costs, leverage API-based integration, and enable better interoperability across vendors.
Johan Roets, ACI’s current Chief Administrative Officer, will assume the CEO role for the new entity. “ACI’s corporate online banking solution team and I are excited to join forces with OEP and bring focus, accelerate investment and foster growth for our banking customers with this market-leading online banking platform,” said Roets. “Banking is becoming more technologically complex and requires functionality across multiple corporate IT structures and industry vendors. It is an ideal environment to drive growth for the new company.”
“One Equity Partners has extensive experience in executing complex carve-out transactions. When evaluating corporate assets, we seek companies with strong fundamentals that will allow them to thrive as independent businesses,” said Ante Kusurin, Principal, One Equity Partners. “In this case, we are acquiring an established business from a leader in the technology sector with a strong management team, attractive product offering, blue-chip customer base, and significant market opportunity for continued growth.”
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About ACI Corporate Online Banking
ACI’s corporate online banking marketed as Digital Business Banking is a leading cash management solution servicing the banking industry. The ACI platform enables a bank’s commercial customers to easily exchange data with corporate systems. It primarily serves medium to large-sized U.S. banks and has multiple currency and language capabilities to enable deployments globally.
About ACI Worldwide
ACI Worldwide is the global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs, financial disruptors and merchants to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.