August 31, 2014 5:35 AM ET

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Company Overview of Official Payments Holdings, Inc.

Company Overview

Official Payments Holdings, Inc. provides electronic payment solutions in the United States, Puerto Rico, and the District of Columbia. Its solutions enable clients to accept payments by credit card, debit card, and electronic check through mobile devices, the Internet, telephone, and point of sale devices. The company offers various payment solutions to federal, state, and local governments for federal and state income and business tax payments, and local real property tax payments; higher education market for payments to post-secondary educational institutions; utility market for payments to private and public utilities; charitable organizations for charitable donations; and for other purp...

3550 Engineering Drive

Suite 400

Norcross, GA 30092

United States

Founded in 1991

237 Employees

Phone:

770-325-3100

Fax:

770-325-3099

Key Executives for Official Payments Holdings, Inc.

Chief Executive Officer
Age: 51
Chief Financial Officer
Age: 45
Vice President
Age: 53
Chief Technology Officer
Age: 49
Senior Vice President of Corporate Development
Age: 48
Compensation as of Fiscal Year 2014.

Official Payments Holdings, Inc. Key Developments

Official Payments Holdings, Inc.(NasdaqGM:OPAY) dropped from NASDAQ Composite Index

Official Payments Holdings, Inc. will be removed from NASDAQ Composite Index.

Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by Board of Official Payments Holdings, Inc. in Connection With Sale of Company to ACI Worldwide, Inc

Levi & Korsinsky notifies investors of Official Payments Holdings, Inc. of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to ACI Worldwide, Inc. A complaint was filed in Delaware state court. Under the terms of the transaction, Official Payments shareholders will receive $8.35 for each share of Official Payments stock they own. The transaction has an approximate total value of $109 million. The claims concern whether the Official Payments Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether ACI Worldwide, Inc. is underpaying for Official Payments shares.

Official Payments Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2013

Official Payments Holdings, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2013. For the quarter, revenue was $45.792 million against $39.163 million a year ago. Income from continuing operations before income taxes was $0.640 million against loss from continuing operations before income taxes of $0.847 million a year ago. Income from continuing operations was $0.635 million or $0.04 per diluted share against loss from continuing operations of $0.852 million or $0.05 per diluted share a year ago. Net income was $0.547 million or $0.03 per diluted share against net loss of $0.853 million or $0.05 per diluted share a year ago. Adjusted EBITDA from continuing operations was $3.406 million in compared to $1.378 million a year ago. Capital expenditures for the quarter were $2.6 million versus $1.3 million a year ago, which reflects the spending on the platform consolidation project and other product initiatives, which Alex will discuss momentarily. For the nine months, revenue was $111.922 million against $106.820 million a year ago. Loss from continuing operations before income taxes was $0.547 million against $3.889 million a year ago. Loss from continuing operations was $0.554 million or $0.03 per diluted share against $3.894 million or $0.23 per diluted share a year ago. Net loss was $0.688 million or $0.04 per diluted share against $3.907 million or $0.23 per diluted share a year ago. Cash provided by operating activities was $8.339 million against $4.631 million a year ago. Purchase of equipment and software was $1.213 million against $1.610 million a year ago. Adjusted EBITDA from continuing operations was $6.989 million in compared to $4.576 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 23, 2013
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