Payments technology outfit Fundtech has said that it is in talks with a potential suitor over a possible acquisition of the company.
Confirming market rumours that a deal may be in the offing, Fundtech stated: "One of the transactions currently being discussed is a merger transaction with a company based in the United States of America. In addition, the company was recently approached by a multinational corporation to express its interest in entering into a transaction to acquire the company."
The discussions come off the back of solid performances by Fundtech in its core payments technology business, as banks strip out legacy boxes and seek more help from specialist vendors. The company last month reported net income of $3.6 million on an 11% rise in revenue for the first quarter, as it signed four new bank customers and closed on 110 new deals.
Market analysts have identified Bottomline Technologies and ACI Worldwide as possible suitors. Neither company has been available for comment.
Fundtech says it will make no further statements until a formal agreement has been reached or it is required to make an announcement.