GTCR Intends to Combine BankServ and Fundtech in New Acquisition Proposal
Combination to Create Global Leader in Banking and Payments Technology
BankServ, a leading provider of SaaS banking and payments systems, announced today that GTCR, a majority shareholder of BankServ, has submitted a proposal to acquire Fundtech Ltd. (Nasdaq:FNDT - News) for $23.33 per share in cash. The proposal has been determined by Fundtech's Board of Directors to constitute a superior offer under their previously announced merger agreement with S1 Corporation. GTCR intends to combine Fundtech and BankServ, creating a world-class leader in the global payments industry.
- Published: 15 September 2011
- Written by Editor