Payment provider sells unit in $200M deal

NAPLES — Electronic payment provider ACI Worldwide has agreed to sell its community financial services business to Fiserv for $200 million in cash.

“Exiting the community bank and credit union markets enables ACI to focus resources and energy on our strategic products and new high-growth initiatives,” says Phil Heasley, president and CEO of ACI Worldwide, in a statement.

Naples-based ACI Worldwide provides electronic payments for more than 5,000 organizations. More than 1,000 large financial institutions and 300 global retailers use ACI products to execute $14 trillion in payments each day.

The company says the sale of its financial services unit will help ACI focus on software payment products for large financial institutions, retailers and billers. The deal is scheduled to close before the end of the first quarter.

The acquisition “adds proven digital technology solutions and a talented team of professionals to Fiserv to help clients navigate a rapidly changing world,” says Jeffery Yabuki, president and CEO of Fiserv, in a statement.