ACI Worldwide and Western Union Announce Early Termination of HSR Waiting Period in Connection with Proposed Acquisition of Speedpay U.S. Domestic Bill Pay Business
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, and The Western Union (News - Alert) Company (NYSE: WU), a global leader in cross-border, cross-currency money movement, today announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to ACI's previously announced acquisition of Speedpay, Western Union's United States bill pay business. This satisfies one of the closing conditions. The transaction is expected to close as early as possible in the second quarter of 2019, subject to the satisfaction or waiver of other customary closing conditions.
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize ur electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers' premises or through ACI's private cloud, we provide real-time, immediate payments capabilities and enable the industry's most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter (News - Alert) @ACI_Worldwide.
About Western Union
The Western Union Company is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of December 31, 2018, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in more than 60 countries, plus additional territories, to move money around the world. In 2018, we moved over $300 billion in principal in nearly 130 currencies and processed 34 transactions every second across all our services. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words or phrases such as "believes," "will," "expects," "anticipates," "intends," and words and phrases of similar impact. The forward-looking statements are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The foregoing forward-looking statements are expressly qualified by the risk factors discussed in the companies' SEC (News - Alert) filings. For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review ACI's or Western Union's filings, including their most recently filed Annual Reports on Form 10-K.