(Bloomberg) -- Payments-software provider ACI Worldwide Inc. is in talks with private equity firms about a potential sale, according to people familiar with the matter.
The Naples, Florida-based company is working with financial advisers as it fields takeover interest, said the people, who asked to not be identified because the matter isn’t public. There’s no certainty ACI will reach a deal given the rocky state of the leveraged financing markets, one of the people said.
Shares of ACI, which had fallen 35% in the past year before Wednesday, rose as much as 14% for their biggest jump since March 2020. The stock closed up 13% to $26.11 in New York trading, giving it a market value of more than $2.9 billion.
A representative for ACI declined to comment.
The company has long been viewed as ripe for a takeover because it’s a relatively small player in an industry that’s been consolidating for years.
ACI tapped an adviser to explore a sale two years ago, Barrons reported, after Starboard Value took a stake in the company and pushed it to sell. Starboard has been selling down its stake since reaching an agreement in 2021 that added two independent directors to ACI’s board.
ACI offers a range payments services to banks, merchants and other customers, including a platform for handling in-store transactions and fraud-detection services, according to its website.
(Updates with closing share price in third paragraph.)
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