Transaction Systems Architects to Acquire Stratasoft
Tuesday, April 03, 2007
(NEW YORK — April 3, 2007) — Transaction Systems Architects, Inc. (NASDAQ: TSAI), provider of ACI Worldwide-branded enterprise electronic payments solutions, announced the acquisition of Stratasoft Sdn Bhd, a leading provider of electronic payment solutions in Malaysia. Stratasoft, headquartered in Kuala Lumpur, was founded in 1994 and has been a distributor partner of ACI’s in Malaysia since 1995. Stratasoft’s customers include 7 of the 10 commercial banks in Malaysia, as well as the country’s only government bank.
“The acquisition of Stratasoft is consistent with ACI’s strategy of establishing direct distribution channels in selected markets in Asia where rapid growth in electronic payments is expected,” said Jeremy Wilmot, President of Asia Pacific for ACI Worldwide. “Stratasoft’s people have strong skills in electronic payments and, in particular, the IBM mainframe environment, which will enhance our relationships in the Asia Pacific region and assist us in capturing incremental growth opportunities. With Stratasoft’s presence in Malaysia, it will also provide a platform for ACI to expand its professional services in South East Asia. We’re excited to welcome Stratasoft to the ACI family.”
The Company and its advisors continue to work to complete its Annual Report on Form 10-K for the period ending September 30, 2006. The Company currently expects to file its Form 10-K in mid-April 2007.
About Transaction Systems Architects, Inc.
Every second of every day, TSA solutions are at work processing electronic payments, managing risk, automating back office systems and providing application infrastructure services. TSA is a leading international provider of solutions for banking, retail and cross-industry systems. TSA serves more than 800 customers in 83 countries including many of the world's largest financial institutions, retailers and payment processors. Visit Transaction Systems Architects at www.tsainc.com.
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words or phrases such as the Company “believes,” “will,” “expects,” “looks forward to” and words and phrases of similar impact. The forward-looking statements are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding:
• Company’s belief that the acquisition of Stratasoft complements ACI’s strategy of moving to a direct model in selected markets in Asia to capture incremental growth opportunities and increased control;
• Company’s belief that the acquisition will also provide a platform for ACI to expand its professional services in South East Asia; and
• Company’s expected timing regarding completion of the audit of its 2006 consolidated financial statements and the filing of its Annual Report on Form 10-K.
Any or all of the forward-looking statements may turn out to be wrong. They can be affected by the judgments and estimates underlying such assumptions or by known or unknown risks and uncertainties. These factors include, without limitation, the risk that additional information may arise from the completion of the audit of the Company’s financial statements for its 2006 fiscal year and subsequent events that would require the Company to make additional adjustments than those previously disclosed. Consequently, no forward-looking statement can be guaranteed. In addition, the Company disclaims any obligation to update any forward-looking statements after the date of this release.
All of the foregoing forward-looking statements are expressly qualified by the risk factors discussed in the Company’s filings with the Securities and Exchange Commission. For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K filed on December 14, 2005, the Company’s Form 10-Q filed on February 9, 2006, the Company’s Form 10-Q filed on May 10, 2006, the Company’s Form 10-Q filed on August 9, 2006 and specifically the sections entitled “Factors That May Affect the Company's Future Results or the Market Price of the Company's Common Stock.”