Transaction Systems Buys P&H
Transaction Systems Architects
(TSAI)
, an enterprise e-payments software and services provider, said Tuesday it plans to acquire Web-based enterprise business banking solutions provider
P&H Solutions
TheStreet Recommends
for $150 million in cash.
The company expects the deal to contribute revenue of $40 million to $42 million and to be dilutive to GAAP earnings by 14 cents to 16 cents a share for the fiscal year ending Sept. 30, 2007. The acquisition will be accretive to earnings by about 10 cents a share in fiscal 2008.
The acquisition is expected to close in September 2006 and will be financed by a combination of Transaction Systems cash and a portion of a $150 million revolving credit facility provided by Wachovia Securities.
The company's stock was down 47 cents, or 1.4%, to $34.30 Tuesday.
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