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S1 Corporation and Fundtech agree merger
01 August 2011
S1 Corporation and Fundtech have agreed a stock-for-stock merger creating an industry leader in global transaction banking services.
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S1
Fundtech
trade services solutions
trade payments
financial supply chain
ACI
Trade finance and financial supply chain service providers S1 Corporation and Fundtech have entered into a definitive agreement to combine businesses through a stock-for-stock merger, creating an industry leader in transaction banking solutions. Based on the stock prices at market close on June 24, 2011 for both S1 and Fundtech, the merger is valued at approximately $700 million.
Under the terms of the agreement, Fundtech shareholders will receive 2.72 shares of S1 common stock for each Fundtech ordinary share they own. Upon closing of the transaction, S1 shareholders will own approximately 55% and Fundtech shareholders approximately 45% of the combined company.
The combined company will be headquartered at S1's headquarters in Atlanta, Georgia and will be...
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