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ACI Worldwide Announces $250 Million Share Repurchase Authorization
MIAMI--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software, announced that its Board of Directors
About this update from Aci Worldwide, Inc.
[{"type":"text","content":" MIAMI--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software, announced that its Board of Directors authorized the repurchase of $250 million in shares of common stock in a sign of confidence of the company’s transformation, intrinsic value, and future potential. The new approval includes $38 million remaining under the company’s existing share repurchase authorization. After repurchasing $100 million of stock since the beginning of 2020, the company plans to utilize an important portion of the authorization in the next 12 months.\n\n“This authorization is a clear expression of confidence by the Board in ACI’s three-pillar strategy and long-term vision to be the global leader in real-time payments. We are targeting half of our free cash flow to share repurchases in the near term, consistent with our 2021 analyst day announcement,” said Odilon Almeida, president and CEO, ACI Worldwide.\n\nScott Behrens, chief financial officer, ACI Worldwide, said, “With this significant share repurchase authorization, we are following through on our commitment to return cash to shareholders. Our pledge to deliver value to shareholders is supported by our increased long-term organic revenue growth outlook, consistent cash flow generation, solid balance sheet and overall financial flexibility to continue our investments.\"\n\nACI may repurchase shares in the open market or through privately negotiated transactions at the discretion of management, subject to its assessment of market conditions and other factors. This authorization does not expire.\n\nAbout ACI Worldwide\nACI Worldwide is a global software company that provides mission-critical real-time payment solutions to corporations. Customers use our proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with local presence to drive the real-time digital transformation of payments and commerce.\n\n© Copyright ACI Worldwide, Inc. 2021\n\nACI, ACI Worldwide, the ACI logo, ACI Universal Payments, UP, the UP logo and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other par...