S1 Corporation
| Type | Public |
|---|---|
| Nasdaq: SONE | |
| Industry | Financial software |
| Predecessor | Technology division of Security First Network Bank |
| Founded | 1994 |
| Defunct | 2012 |
| Fate | Acquired by ACI Worldwide, Inc. |
| Headquarters | , United States |
Key people | Johann Dreyer (last CEO) |
| Products | Payment processing software, ATM software, internet banking |
S1 Corporation was an American software company based in Norcross, Georgia, specialising in payment processing and financial services software for automated teller machines, retail point of sale and online banking applications, serving banks, retailers and credit unions. S1 Corporation was acquired by competing payment software company ACI Worldwide, Inc. in 2011 for approximately $516 million.
History
S1 Corporation originated as the technology division of Security First Network Bank, one of the first internet banks in the United States.[1][2] It was spun off as an independent company, with James (Chip) S. Mahan III serving as chief executive officer from 1994. Mahan was succeeded in 2001 by Jaime Ellertson, who served until 2005,[3] after which Mahan was reappointed. Johann Dreyer, formerly CEO of Mosaic Software, became S1's last chief executive in 2006 and served until the ACI Worldwide acquisition.[4]
In 2004, S1 acquired South African banking software firm Mosaic Software. In March 2010, it acquired PM Systems Corporation, an internet banking company.[5]
In 2011, S1 Corporation attempted to acquire Israeli banking services firm Fundtech Ltd, but private equity firm GTCR secured Fundtech instead. ACI Worldwide, Inc. subsequently made three successive acquisition bids for S1 before the deal was agreed. The acquisition, completed in October 2011, valued S1 at $9.95 per share, with a total transaction value of approximately $515.7 million.[6][7][8]
See also
References
- ↑ "S1 Corporation Agrees to Settle Shareholder Litigation". Bloomberg.com. 25 October 2011.
- ↑ "S1 Corporation News". The New York Times.
- ↑ "S1 reveals Ellertson's termination pay". Jun 9, 2006.
- ↑ "S1 Investor Relations - Biography". investor.S1.com. 14 November 2012.
- ↑ "P&F Spread Triple Top Breakout – ANDE, CRBC, PZZA, SNDA, SONE". Retirementplannings.org. 28 November 2011.
{{cite web}}: CS1 maint: deprecated archival service (link) - ↑ "ACI Reaches Deal to Buy S1 for about $516M". Bloomberg Businessweek. 3 October 2011. Archived from the original on March 20, 2013.
- ↑ "ACI Seals S1 Deal for $516 Mln". Reuters. 3 October 2011.
- ↑ "ACI Worldwide to Acquire S1 Corporation". Forbes. 3 October 2011.