August 24, 2016
ReD Acquired by ACI Worldwide for $205 Million
July 21, 2014
Florida-based payment processor ACI Worldwide today revealed that it has agreed to acquire antifraud technology provider ReD. ACI said London-based ReD will provide its merchants with fraud protection as more of them transition to e-commerce and omnichannel environments. But, ACI Worldwide CEO Philip Heasley noted that as this shift has taken place, payment technology often has been bolted on, resulting in different technologies serving different channels within the same company.
“Retailers are currently operating disparate systems for their online, mobile and point-of-sale operations,” Heasley said. ”ACI and ReD together have an unrivaled merchant retail solution – global, omnichannel with integrated fraud management built on Universal Payments technology. This solution will not only guarantee a consistent, unified customer experience in any retailer modality, but also will be a key part of our real-time commerce, any-to-any transaction strategy.”
In its announcement, the company also alluded to the U.S. migration to EMV and the resultant spike expected in card-not-present fraud, which ReD’s technology is designed to thwart. ACI said it expects the all-cash $205 million deal to close during the third quarter of this year.
Additionally, ReD’s consortium models, business intelligence offerings, modeling and risk analyst expertise will both complement and enhance our issuer risk management solutions.”