Transaction Systems Architects buys S2 Systems for $35m

Electronic payments firm Transaction Systems Architects is to acquire S2 Systems, a provider of electronic payments and network connectivity software, for $35m in cash.

As part of the agreement, S2 Systems, which develops payments technology for the financial services and retail markets, will be integrated into Transaction Systems Architects (TSA). S2’s chief technology officer Lynn Holland will serve as vice president with TSA’s subsidiary ACI Worldwide.

S2 facilities in England and Australia will also be integrated into ACI Worldwide offices, and other acquired locations are expected to increase TSA’s presence in the Middle East and US.

We believe this acquisition will enable us to leverage our combined expertise and strengthen our leadership position in the growing payments industry, said Philip Heasley, CEO of TSA. The S2 acquisition will expand our presence in important markets and improve our cross-sell opportunities to customers around the globe.

The transaction is expected to close in late July 2005.

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