Source: ACI Worldwide
Transaction Systems Architects (NASDAQ:TSAI), a leading international provider of software for electronic payment systems, today announced that its proposed name change to ACI Worldwide, Inc., was approved by its stockholders at its annual stockholders meeting.
In connection with the name change, effective July 25, 2007, the Company begins trading on the NASDAQ Global Select Market under the symbol "ACIW".
"This is another step in our strategic plan, designed to enhance and leverage our powerful brand," said Philip G. Heasley, ACI Worldwide CEO. "The name change should make it easier for our various stakeholders to continue to follow our progress against our strategic goals."
The Company's operations will not be affected by the name change. The Company's shareholders will not be required to exchange their Transaction Systems Architects, Inc. stock certificates for ACI Worldwide, Inc. stock certificates. The Transaction Systems Architects, Inc. stock certificates will continue to represent shares of the stock of the re-named Company.
The Company has been marketing products and services under the ACI Worldwide brand since 1993 and has gained significant market recognition under this name. The Company believes that changing its name aligns its corporate name with the operating unit that the public associates with its products and services, and will provide greater intangible value and even greater name recognition in the future.