Fundtech Agrees to Be Acquired By GTCR for $23.33/Share

Fundtech Ltd. (Nasdaq: FNDT) today announced that the previously announced merger agreement with S1 Corporation has been terminated and that Fundtech has accepted the previously announced binding offer to be acquired by GTCR for $23.33 per ordinary share, or approximately $390 million in the aggregate. This price per share represents a 32.9% premium to the closing price per ordinary share on September 14, 2011, the last trading day prior to the announcement of GTCR's offer.

As announced on September 15, 2011, the board of directors of Fundtech considered GTCR's binding offer, and following consultation with outside legal counsel and a financial advisor, determined that GTCR's binding offer constituted a "Company Superior Offer" under Fundtech's previously announced merger agreement with S1. Under the merger agreement with S1, Fundtech provided notice to S1 of its board's intention to change its recommendation and terminate the merger agreement with S1. S1 and Fundtech agreed to terminate the merger agreement with S1 prior to the expiration of the five business day period contemplated by the merger agreement with S1 upon payment of the $11.9 million termination fee. GTCR paid the termination fee due to S1 and the merger agreement with S1 was terminated.