transaction banking

S1 Corporation is merging with Fundtech Ltd to create a single business in transaction banking solutions industry. Based on the stock prices at market close on June 24, 2011 for both S1 and Fundtech, the merger is valued at approximately $700 million.

As a part of the definitive 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 percent and Fundtech shareholders approximately 45 percent of the combined company.