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26 July 2011 | 10325 views | 0
Payments outfit ACI Worldwide has made a $540 million cash and stock takeover move for S1 Corporation, urging the latter's shareholders to spurn a proposed merger with Fundtech.
Just when you thought payments couldn't stir up a bit of intrigue, the payments space gives us a juicy bit of M&A love triangle drama worthy of the cheesiest, Susan Lucci-top billing, daytime soap opera (those in the US know what I'm talking about).
The talk of this year's EBADay was "Who's going buy Fundtech?" A week or so later, we got our answer - S1. An answer that, frankly, surprised me - I had my money on ACI.
Now, it looks like my money wasn't *that* far off. ACI has come in offering to buy up S1. However, the deal will only go through if, and here's where the bitchy, *cue the music* catch is - only if they let go of their desire to acquire Fundtech. "Lose the
bit on the side, S1 love, and sugar daddy ACI will pay all your credit cards bills".
I'm predicting a show down involving a slap-fest and possibly an outdoor water feature. OK, so in reality, this will probably involve a room full of dark suited lawyers - but in my head I want George Ravich to get, at least, one scene with Susan Lucci.