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Starboard Value Pushes Payments Firm ACI Worldwide to Pursue Sale

Jeff Smith
Jeff SmithPhotographer: Christopher Goodney/Bloomberg
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Activist investor Starboard Value is urging ACI Worldwide Inc. to explore a sale, arguing that a takeover is more likely to create value for shareholders than the payment company’s standalone plan released last month.

Starboard Managing Member Jeff Smith said in a letter to the company Wednesday that its revenue growth and margin targets are so conservative that it “seems almost impossible for management to miss.”