S1 Corporation was an American
software development
Software development is the process of conceiving, specifying, designing, programming, documenting, testing, and bug fixing involved in creating and maintaining applications, frameworks, or other software components. Software development inv ...
company based in
Norcross, Georgia
Norcross is a city in Gwinnett County, Georgia, United States. The population as of the 2010 census was 9,116, while in 2020 the population was 17,209. It is included in the Atlanta-Sandy Springs-Marietta metropolitan statistical area.
History
...
which specialized in
payment processing and
financial services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companie ...
software for
automated teller machine
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, f ...
s and
retail point of sale applications, primarily for banks, retailers and
credit union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision ...
s.
S1 Corporation was acquired by a competing payment software company,
ACI Worldwide, Inc., during October 2011 for $9.95 per share.
S1 Corporation was originally the technology division of
Security First Network Bank
Security First Network Bank (SFNB) was the first pure Internet bank in the United States. It had no physical branch bank offices and could only be accessed online. It was founded in Pineville, Kentucky, in October 1995 by James (Chip) S. Maha ...
.
The company acquired the South African firm Mosaic Software during 2004 and acquired
internet banking
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial inst ...
company PM Systems Corporation in March 2010.
[ S1 Corporation attempted to acquire ]Israel
Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...
i banking service firm Fundtech Ltd in 2011, however the private equity firm
A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including le ...
GTCR
GTCR LLC is a Chicago, Illinois-based private equity firm focused on leveraged buyout, leveraged recapitalization, growth capital and rollup transactions. The firm principally invests in high-growth industries, including financial services & ...
acquired FundTech, and S1 was acquired by ACI Worldwide instead.[ The acquisition of S1 by ACI Worldwide was completed following ACI Worldwide's third takeover bid in as many months.][ James (Chip) S. Mahan III served as ]chief executive officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
(CEO) from 1994, and was succeeded in 2001 by Jaime Ellertson, who served until 2005,
See also
*Security First Network Bank
Security First Network Bank (SFNB) was the first pure Internet bank in the United States. It had no physical branch bank offices and could only be accessed online. It was founded in Pineville, Kentucky, in October 1995 by James (Chip) S. Maha ...
References
External links
S1 Corporation Homepage
Software companies based in Georgia (U.S. state)
2011 mergers and acquisitions
Software companies of the United States
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