ACI Demonstrates Commitment to local Market-Based Service and Support in France
(Watford, UK — 30 November 2005) — ACI Worldwide (Nasdaq: TSAI), a leading international provider of enterprise payment solutions, and FINEAC (holding company of EAC Corporation), a leading monétique services company headquartered in France, today announced the signing of a shareholder agreement to form a joint venture under the name ACI Monétique. The new company will provide technical services and project management support to ACI customers in France including BNP Paribas, Europay France, ING Direct and Société Générale.
ACI Monétique names Erroll Williamson as president. Williamson is currently vice president of Software and Services at ACI Worldwide EMEA. Gérald Fay, director of services for EAC Corporation, a 100 percent owned subsidiary of FINEAC, will hold the position of general manager.
"France is a key strategic market and represents one of the largest business growth opportunities for ACI Worldwide," said Williamson. "In order to effectively react to the changing requirements driven by SEPA and by structural changes in the French payment processing market, we need to proactively seek out local business partners and opportunities."
ACI Monétique, of which ACI Worldwide (France) and FINEAC will hold 51 percent and 49 percent respectively, will be based in France and benefit from the synergies generated as a result of ACI Worldwide and EAC Corporation’s existing working relationship. This local base will play a vital role in continuing to effectively service ACI customers in France.
"ACI Monétique and ACI Worldwide (France) will work closely together to add value for the ACI customers in France," said Jeremy Wilmot, regional director of ACI Worldwide EMEA. "ACI´s presence in France was strengthened following the S2 Systems acquisition, and the ACI Monétique joint venture provides an excellent platform to deliver global solutions tailored to local market conditions."
"ACI Worldwide’s increased local presence enhances the company’s international credibility and service quality," said Fay. "Choosing FINEAC to help provide this level of service was a results-driven choice supported by a 10-year relationship between EAC Corporation and ACI."
ACI Worldwide France, the 100 percent owned subsidiary of ACI Worldwide, will continue to market and sell ACI software solutions to the French market. Both companies will cooperate closely to provide a seamless service to the ACI customers in France.