ACI Worldwide Mulls Potential Sale To Private Equity

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  • ACI Worldwide Inc ACIW is reportedly discussing a potential sale with private equity firms.
  • The payments-software provider said it is working with financial advisers as it fields takeover interest, Bloomberg reported
  • One of the people told Bloomberg there’s no certainty ACI will reach a deal given the rocky state of the leveraged financing markets. 
  • The company has long been viewed as ripe for a takeover because it’s a relatively small player in a consolidating industry.
  • ACI roped in an adviser to explore a sale two years ago, Barrons reported, after Starboard Value purchased a stake and pushed the company to sell. 
  • Starboard has been selling down its stake since reaching an agreement in 2021 that added two independent directors to ACI’s board. 
  • During its latest quarterly results, ACI delivered Q3 sales of $307 million and adjusted EBITDA of $46 million.
  • For FY22, ACI expects adjusted EBITDA of $365-$380 million.
  • Price Action: ACIW shares closed 13.4% higher at $26.11 on Wednesday.
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