FinTech Cash Management Vendor P&H Solutions Acquired by TSA

On August 28, 2006, payment leader TSA Inc. announced its acquisition of United States?based Web business banking provider, P&H Solutions Inc. The combination gives P&H support to grow and TSA's principal operating unit, ACI Worldwide, the critical channel piece for its end-to-end payment solution. Equally important, P&H brings ACI an established ASP platform for delivery of ACI's wholesale payments and card services to financial institutions of all sizes. The deal, valued at $150 million ($60 million in cash, $90 million in debt), was a healthy multiple of P&H sales and is expected to close by the end of September. At that point, Ralph Dangelmaier, P&H president and CEO, will become president of TSA's software as a service (SaaS) business. This acquisition underscores the growing importance of the customer facing channel in the end-to-end payments strategy. ACI was ranked 37 in the 2005 FinTech 100 list, compiled annually by Financial Insights in partnership with the American Banker.