The divestiture will enable the company to shift focus on its main business lines. Credit: Clay Banks on Unsplash.

American online payments systems provider ACI Worldwide has divested its corporate online banking solutions to private equity firm One Equity Partners (OEP).

The cash deal was valued at $100m. It included sale of customer contracts, technology assets and intellectual property.

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Post divestment, the employees in charge of the solutions will work under One Equity Partners.

The divestiture is part of ACI’s three-pillar strategy to sharpen focus on faster-growing core business lines.

The move has also led the company to adjust its financial outlook for full-year and third quarter 2022.

For full-year 2022, ACI expects to earn revenue between $1.4bn and $1.42bn.

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ACI first announced the deal to divest its corporate online banking solutions in June this year.

ACI Worldwide president and CEO Odilon Almeida said: “Our focused and disciplined execution of our strategy continues to gain traction in line with our commitment to maximise shareholder value.

“The divestiture enhances our growth rates and provides additional flexibility to invest in growth and return capital to shareholders through share repurchases.

“Our core business is resilient in a turbulent environment. This divestiture improves our growth profile and facilitates our progress towards achieving our targeted 7% to 9% revenue growth by 2024.”

ACI Worldwide offers secure and scalable software technologies to manage digital payments, process bill payments and manage fraud and risk.

The company caters to the needs of corporations, fintechs and financial disruptors. In July 2021, Swedbank collaborated with ACI Worldwide to bolster its card fraud management approach.