The purchase price of USD 23.33 in cash, subject to applicable tax withholdings, for each ordinary share of Fundtech represents a transaction value of approximately USD 390 million.
Mr. Reuven Ben-Menachem will continue to serve as Chief Executive Officer of the Company. American Stock Transfer LLC has been appointed as the paying agent under the merger agreement.
The consolidated organization, which combines Fundtech with GTCR-affiliated BankServ, will have expanded product lines in wholesale banking and will add to Fundtech’s line of small-to-medium business products.
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