ACI Worldwide, a provider of electronic payments software and solutions, has entered into an agreement to acquire Euronet Essentis, a division of Euronet Worldwide. UK-based Essentis is a provider of payment solutions for card issuing and merchant acquiring around the world. ACI will market the Essentis solutions globally to financial service providers under the ACI brand.
Essentis provides card issuing and merchant management products, delivering reliability and scalability to high-profile customers internationally. Essentis customers are able to handle large scale projects, with one organisation acquiring transactions from more than 350,000 merchants and another organisation issuing more than 12 million cards using Essentis products.
Louis Blatt, chief product officer at ACI Worldwide, said: “The acquisition of Essentis enables us to combine leading products across the retail banking market and positions us at the forefront of the future of payment systems. The Essentis products will be an important part of ACI Agile Payments Solution. They are built on SOA [service-oriented architecture], and will deliver a range of different services that are fundamental to helping financial organisations become truly agile, as well as driving consolidation and operational efficiencies that can give them an essential competitive advantage.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.