ACI Worldwide Mulls Potential Sale To Private Equity

Vandana Singh
1 min read
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In this article:

  • ACI Worldwide Inc (NASDAQ: 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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