Electronic payment and banking system provider ACI Worldwide has announced it will acquire independent fraud management and detection platform provider ReD.
According to a press release from ACI Worldwide, the acquisition of ReD will be in the amount of $205 million in cash. Also according to ACI’s PR the deal will be settled sometime in Q3 2014.
ACI plans to incorporate ReD’s SaaS-based e-commerce solution with integrated fraud detection/management into its own platform. The integration of ReD’s robust fraud detection offering could position ACI as a global leader in payment and fraud management services, offering a suite of services for Ecommerce merchants an retailers.
ACB Investment Announces Expansion of its Product LineGo to article >>
“ACI and ReD together have an unrivaled merchant retail solution – global, omni-channel with integrated fraud management built on Universal Payments technology. This solution will not only guarantee a consistent, unified customer experience in any retailer modality, but also will be a key part of our real-time commerce, any-to-any transaction strategy. Additionally, ReD’s consortium models, business intelligence offerings, modeling and risk analyst expertise will both complement and enhance our issuer risk management solutions,” stated President and CEO of ACI Worldwide, Philip Heasley.
Bank of America-Merril Lynch is acting as financial adviser for ACI during the acquisition. Bank of America-Merril Lynch is also the lead arranger providing a commitment for 100% financing of the acquisition.