Fundtech and S1 Respond to ACI's Proposal to Acquire S1

Atlanta-based S1 Corporation and Jersey City, N.J.-based Fundtech Ltd. have issued press releases in response to inquiries about New York-based ACI Worldwide's proposed acquisition of S1.

In their releases, both companies stated that the merger agreement they announced on June 26 continues to remain in effect. The merger cannot be completed, however, until S1's Board of Directors review the terms of the proposal and the companies receive shareholder and regulatory approvals.

Both Fundtech and S1 decline to make further comments at this time.