Fundtech Announces a Superior Offer From GTCR at $23.33 per Share

Fundtech Ltd. (Nasdaq: FNDT) earlier today announced that its board of directors has determined that a binding offer it has received from GTCR Fund X/A LP and its affiliated entities, which contemplates the acquisition of all of Fundtech's outstanding ordinary shares at $23.33 per share in cash, constitutes a "Company Superior Offer" under Fundtech's previously announced merger agreement with S1 Corporation.

Fundtech has notified S1 of Fundtech's board of directors' intention to change its recommendation with respect to the pending transaction with S1, to terminate the merger agreement with S1 and to enter into a written definitive agreement with entities formed by GTCR subject to the satisfaction of the conditions set forth in the merger agreement with S1, including the expiration of the five business day period contemplated by the merger agreement to the extent applicable.