Starboard Delivers Letter to ACI Worldwide

On December 2, 2020, Starboard Value LP, a major shareholder of ACI Worldwide (ACIW) with a 9% stake, delivered a letter to ACI's Chairman David Poe and CEO Odilon Almeida.

Rhea-AI Summary

On December 2, 2020, Starboard Value LP, a major shareholder of ACI Worldwide (ACIW) with a 9% stake, delivered a letter to ACI's Chairman David Poe and CEO Odilon Almeida. The letter, which was also shared with ACI's Board of Directors, outlines Starboard's strategic recommendations for enhancing shareholder value. Starboard Value LP focuses on investing in undervalued companies and actively engaging with management to unlock potential value.

Positive

• Starboard Value LP holds a significant 9% stake in ACIW, indicating strong investor interest.
• The engagement from Starboard suggests potential strategic improvements that could enhance shareholder value.

Negative

• None.

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NEW YORK, Dec. 2, 2020 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), one of the largest shareholders of ACI Worldwide, Inc. (NASDAQ: ACIW) ("ACI" or the "Company"), with an ownership interest of approximately 9% of the Company's outstanding shares, today announced that it has delivered a letter to David  Poe, ACI's Chairman, and Odilon Almeida, ACI's President and CEO, with copies to the Company's Board of Directors.

The full text of Starboard's letter can be viewed at the following link:

http://www.starboardvalue.com/wp-content/uploads/Starboard_Value_LP_Letter_to_ACIW_Board_12.02.2020.pdf

About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard seeks to invest in deeply undervalued companies and actively engage with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

Investor contacts:
Peter Feld, (212) 201-4878
Tom Cusack, (212) 201-4814
www.starboardvalue.com

 

View original content:http://www.prnewswire.com/news-releases/starboard-delivers-letter-to-aci-worldwide-301183695.html

SOURCE Starboard Value

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the significance of Starboard's letter to ACI Worldwide on December 2, 2020?

Starboard's letter indicates their strategic recommendations aimed at enhancing shareholder value for ACI Worldwide, in which they own a 9% stake.

Who received the letter from Starboard Value LP regarding ACI Worldwide?

The letter was delivered to David Poe, ACI's Chairman, and Odilon Almeida, ACI's President and CEO, with copies sent to the Board of Directors.

What percentage of ACI Worldwide does Starboard Value LP own?

Starboard Value LP owns approximately 9% of the outstanding shares of ACI Worldwide.

What approach does Starboard Value LP take towards investing?

Starboard employs a focused and differentiated approach, aiming to invest in undervalued companies and actively engage with their management to unlock value.