RTTNews | Dec 6, 2021 07:07AM EST

07:06 Monday, December 6, 2021 (RTTNews.com) - ACI Worldwide (ACIW), a provider of real-time digital payment software, said on Monday that its Board has authorized to repurchase $250 million shares of common stock, citing "sign of confidence of the company's transformation, intrinsic value, and future potential."

The authorization includes $38 million remaining under the company's existing share repurchase authorization.

ACI plans to utilize "an important portion of the authorization" in the next one year.

Odilon Almeida, president and CEO, ACI Worldwide, commented: "This authorization is a clear expression of confidence by the Board in ACI's three-pillar strategy and long-term vision to be the global leader in real-time payments. We are targeting half of our free cash flow to share repurchases in the near term, consistent with our 2021 analyst day announcement."

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