As per the agreement, Fundtech shareholders will receive 2.72 shares of S1 common stock for each Fundtech ordinary share they own.
Upon closing of the transaction, S1 shareholders will own approximately 55% and Fundtech shareholders approximately 45$ of the combined company.
The combined company will be headquartered at S1’s headquarters in Atlanta, Georgia and will be called Fundtech.
Reuven BenMenachem will serve as executive chairman of the combined company and Johann Dreyer will serve as CEO.
BenMenachem said this merger will create an industry leader that provides a complete suite of technologically advanced transaction banking solutions.
"The companies have complementary product offerings and extensive cross-selling opportunities which will position the combined company to secure larger contracts and cultivate more strategic relationships with customers," BenMenachem added.
