ACI Worldwide has closed the purchase of Western Union’s US bill pay business Speedpay.
The takeover combines the two companies’ UP Bill Payment platforms.
ACI anticipates the deal to add between $215m and $220m in revenue and between $50m and $55m in adjusted EBITDA this year.
The all-cash deal, valued at $750m, was first announced this February.
ACI president and CEO Phil Heasley said: “As we join forces, we are focussed on driving innovation and revolutionising bill pay for our thousands of customers.
“Strategically moving forward, this acquisition also accelerates the delivery of ACI’s ‘Any Payment, Every Possibility’ vision to serve the real-time digital payments needs of merchants, corporates and billers.”
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At the same time, ACI rolled out new mobile wallet payment and loyalty capabilities as part of its UP portfolio.
With the new offering, one can view bills from their Apple Wallet or Google Pay and pay via smartphones.
The move follows ACI’s purchase of Walletron, a unit of Western Union that provides mobile wallet services for iOS and Android users.
ACI did not reveal the Walletron deal value.
moBills, the digital engagement technology of Walletron, allows organisations to place bills, invoices, and other notifications directly into mobile wallets of consumers.
ACI executive vice president Sanjay Gupta said: “As more consumers utilise mobile devices to view and pay bills, organisations must be able to present bills in a mobile-friendly way.
“The combination of ACI’s bill payments platform and Walletron’s next-generation mobile wallet billing technology delivers consumers a digital bill pay experience unmatched in the industry.”