NEW YORK–One Equity Partners (“OEP”), a middle market private equity firm, today announced it has agreed to acquire ACI’s corporate online banking solutions, a leading API-driven solution for the banking industry, from ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software. Hauser Private Equity provided co-investment capital for OEP’s acquisition and added Greg Carmichael to the Dragonfly Technologies Board of Directors. Greg Carmichael serves as executive chairman of the Board of Directors of Fifth Third Bancorp, the ninth-largest U.S.-based consumer bank.
Upon completing the transaction, the entity will operate independently under the new name, Dragonfly Financial Technologies. “One Equity Partners has been a top performing fund in our portfolio. With their leadership and the new Board of Directors’ expertise and industry experience, we believe Dragonfly is poised for exceptional growth,” said Hauser Private Equity Managing Partner, Mark Hauser.
The industry-leading technology marketed as ACI Digital Business Banking Solutions enables blue chip banks worldwide to process over $1 billion in daily payments. The technology deployed on-premise or cloud-based and corporate banking customers to initiate payments, collect money owed, and manage financial positions and operations. As platforms, cloud, and software become the backbone of most modern businesses, the acquisition allows OEP to expand its expertise and exposure to financial technology and the software sector.
“ACI’s corporate banking solution is highly regarded and used by many top-tier banks globally,” said Chip Schorr, Senior Managing Director, One Equity Partners. “We see significant opportunity in this market, as banks continue to invest more in digital transformation.”
The U.S. online commercial banking sector is experiencing tailwinds, including corporations’ increased demand for API-driven automated digital banking and treasury management solutions. Banks are increasingly adopting cloud-based IT ecosystems to accelerate functionality, minimize costs, leverage API-based integration, and enable better interoperability across vendors.Johan Roets, ACI’s current Chief Administrative Officer, will assume the CEO role for the new entity. “ACI’s corporate online banking solution team and I are excited to join forces with OEP and bring focus, accelerate investment and foster growth for our banking customers with this market-leading online banking platform,” said Roets. “Banking is becoming more technologically complex and requires functionality across multiple corporate IT structures and industry vendors. It is an ideal environment to drive growth for the new company.”
About ACI Corporate Online Banking
ACI’s corporate online banking marketed as Digital Business Banking is a leading cash management solution servicing the banking industry. The ACI platform enables a bank’s commercial customers to easily exchange data with corporate systems. It primarily serves medium to large-sized U.S. banks and has multiple currency and language capabilities to enable deployments globally.
