ACI Worldwide has extended its tender offer for all of the outstanding shares of common stock of electronic bill payment provider Official Payments Holdings (OPay).
ACI originally agreed to purchase OPay in September. The deal would give ACI access to OPays government, educational and charity clients in the electronic billing market. OPay has more than 3,000 clients representing more than 100 million users, and processes more than $9 billion in annual payments.
The extended offer is effective until midnight EST, Monday, Nov. 4, unless further extended. As of Oct. 25, 1,900,463 shares of Official Payments common stock had been validly tendered in the offer, representing about 9.86% of the outstanding OPay common stock on a fully diluted basis, according to Computershare Trust Company, the depository for the offer.
ACI and Official Payments have also entered into a Memorandum of Understanding to settle pending litigation against Official Payments.