Appeared in Cardline Global, November 2009
Sunday, November 01, 2009
ACI Worldwide Inc. says its acquisition this week of Euronet Worldwide's Euronet Essentis Ltd. subsidiary will enable it to expand its relationships with large, global financial-services providers, including retailers with mass-scale card programs.
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