ACI Worldwide Mulls Potential Sale To Private Equity

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.