Latest News Israel

S1 CORP BUYS ISRAEL’S FUNDTECH

Share |
Tuesday, August 23rd, 2011

Financial services provider S1 Corp is buying Fundtech Ltd, a provider of payment systems and services for $325 million.

Following the acquisition S1 shareholders will own about 55 percent of the combined company and Fundtech shareholders the rest. The combined company, which will be headquartered in Atlanta, Georgia and will be called Fundtech, will be led by S1 Chief Executive Johann Dreyer.

Fundtech develops transaction banking solutions that automate activities such as payments, cash management, settlement, liquidity management, and the financial supply chain, and was founded in 1993. S1 Corporation delivers integrated financial services on an open platform to leading financial institutions, retailers, and processors.