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One Equity Partners has agreed to acquire ACI Worldwide's corporate online banking solutions, a leading API-driven service that processes over $1 billion in daily payments. The new entity will operate as Dragonfly Financial Technologies. With a strong management team and a blue-chip customer base, this acquisition is positioned to leverage the growing demand for digital banking solutions. Johan Roets, ACI's current Chief Administrative Officer, will lead the new company, emphasizing accelerated growth opportunities for banks adapting to complex technology requirements.
Positive
Acquisition allows One Equity Partners to expand expertise in the financial technology sector.
Dragonfly Financial Technologies is expected to benefit from the increasing demand for digital banking solutions.
Established business with a strong management team and blue-chip customer base.
Negative
None.
Strategic Carve-out of Leading Technology Platform from ACI Worldwide
NEW YORK--(BUSINESS WIRE)--
One Equity Partners (“OEP”), a middle market private equity firm, today announced it has agreed to acquire ACI’s corporate online banking solutions, a leading API-driven solution for the banking industry, from ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software.
Upon completing the transaction, the entity will operate independently under the new name, Dragonfly Financial Technologies.
The industry-leading technology marketed as ACI Digital Business Banking Solutions enables blue chip banks worldwide to process over $1 billion in daily payments. The technology deployed on-premise or cloud-based and corporate banking customers to initiate payments, collect money owed, and manage financial positions and operations. As platforms, cloud, and software become the backbone of most modern businesses, the acquisition allows OEP to expand its expertise and exposure to financial technology and the software sector.
“ACI’s corporate banking solution is highly regarded and used by many top-tier banks globally,” said Chip Schorr, Senior Managing Director, One Equity Partners. “We see significant opportunity in this market, as banks continue to invest more in digital transformation.”
The U.S. online commercial banking sector is experiencing tailwinds, including corporations’ increased demand for API-driven automated digital banking and treasury management solutions. Banks are increasingly adopting cloud-based IT ecosystems to accelerate functionality, minimize costs, leverage API-based integration, and enable better interoperability across vendors.
Johan Roets, ACI’s current Chief Administrative Officer, will assume the CEO role for the new entity. “ACI’s corporate online banking solution team and I are excited to join forces with OEP and bring focus, accelerate investment and foster growth for our banking customers with this market-leading online banking platform,” said Roets. “Banking is becoming more technologically complex and requires functionality across multiple corporate IT structures and industry vendors. It is an ideal environment to drive growth for the new company.”
“One Equity Partners has extensive experience in executing complex carve-out transactions. When evaluating corporate assets, we seek companies with strong fundamentals that will allow them to thrive as independent businesses,” said Ante Kusurin, Principal, One Equity Partners. “In this case, we are acquiring an established business from a leader in the technology sector with a strong management team, attractive product offering, blue-chip customer base, and significant market opportunity for continued growth.”
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About ACI Corporate Online Banking
ACI’s corporate online banking marketed as Digital Business Banking is a leading cash management solution servicing the banking industry. The ACI platform enables a bank’s commercial customers to easily exchange data with corporate systems. It primarily serves medium to large-sized U.S. banks and has multiple currency and language capabilities to enable deployments globally.
What is the purpose of One Equity Partners' acquisition of ACI Worldwide's banking solutions?
The acquisition aims to enhance One Equity Partners' footprint in the digital banking sector by leveraging ACI’s leading corporate online banking solutions.
What will the new entity formed from ACI Worldwide's acquisition be called?
The new entity will operate under the name Dragonfly Financial Technologies.
Who will lead Dragonfly Financial Technologies after the acquisition?
Johan Roets, currently ACI’s Chief Administrative Officer, will assume the CEO role for Dragonfly Financial Technologies.
How much in daily payments does ACI's corporate banking solution process?
ACI’s corporate banking solutions enable the processing of over $1 billion in daily payments.
What market trends are driving the acquisition of ACI Worldwide's banking solutions?
The increasing demand for API-driven automated digital banking and treasury management solutions is a significant trend supporting this acquisition.
