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ACI Worldwide
ACIW,
a leading international provider of payments systems, announced today that the
Company's Board of Directors has authorized an increase to its Share
Repurchase Program to 2.5 million shares of the Company's common stock. This
represents $113 million of repurchase capacity, based on the $45.21 closing
trading price per ACI share on September 13, 2012. Under the pre-existing
Share Repurchase Program, year-to-date as of September 13, 2012, ACI has
repurchased 1.43M shares.
ACI also announced that pursuant to the 2007 Master Alliance Agreement between
ACI and IBM, IBM plans to start exercising its 2.8 million warrants to
purchase ACI common stock. These warrants, which expire in December 2012, were
issued by ACI as part of the two companies strategic alliance formed in
2007. ACI plans to use a portion of the proceeds to pay down its revolving
debt facility.
"The IBM/ACI alliance has yielded benefits for both companies, as well as our
customers, through joint technology innovation in electronic payments. We look
forward to continued collaboration," said Craig Maki, Senior Vice President,
corporate development officer, ACI Worldwide.
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