ACI Worldwide to Acquire Euronet's Essentis Unit

Appeared in Cardline Global, November 2009

Sunday, November 01, 2009

U.S.-based ACI, a payments-system software provider, on Tuesday unveiled its plans to acquire Essentis here at the Cartes & IDentification show in Paris. ACI did not disclose the deal's terms. United Kingdom-based Essentis provides card-issuing and card-acquiring capabilities that ACI says will enable it to provide customers with complete, large-scale card solutions. The deal "enriches and deepens our retail banking-product portfolio, and adds value and choice for our existing customer base in the back-office space," Philip Heasley, ACI Worldwide CEO, said in a statement.

Essentis provides such card services as fraud detection, loyalty programs, instant card issuance and chip-technology updates, Felitas Aguilar, ACI Worldwide sales manager in Germany, tells CardLine Global. "Essentis is a well-recognized brand known for its strengths in managing large-scale card programs," she says. "We expect this acquisition will help ACI serve larger customers, including Tier 1 banks, and will expand our relationships with existing customers."

By: Kate Fitzgerald