Transaction Systems Architects, Inc. announced that Roger K. Alexander has joined its Board of Directors, effective as of its recent annual shareholders meeting. Mr. Alexander is a partner with the management consulting firm of Edgar, Dunn & Company, working out of their London office. Prior to joining Edgar, Dunn & Company, Mr. Alexander was a Senior Manager with Barclays Bank, most recently acting as Managing Director of Barclays Emerging Markets Group.
“We’re fortunate to have Roger join us on our Board,” said David C. Russell, President and CEO of Transaction Systems. “His expertise in international banking, e-payments and in emerging payments technology will be invaluable to our efforts going forward. In light of our recently announced strategy to consider ways to more rapidly grow several of our new Internet-centric businesses, Roger is a very timely addition to the team.”
In addition, the company announced that it has extended the duration of its previously announced stock buyback authorization. TSA announced on May 25, 1999 that the Company was authorized to repurchase up to 2 million of its outstanding common shares through February 28, 2000 and that it expected to use any shares purchased for employee stock plans or other corporate purposes. The Company has now extended the time period during which it is authorized to repurchase shares to February 28, 2001. Shares may be purchased from time to time in open market, negotiated, or block transactions.
Since announcing the buyback authorization on May 25, 1999, TSA has repurchased 1 million of its outstanding common shares.
Transaction Systems Architects’ software facilitates electronic commerce and e-payments by providing consumers and companies access to their money. Its products are used to process a wide range of e-payment transactions involving credit cards, debit cards, smart cards, Internet banking services, checks and high-value money transfers, as well as e-payment clearing, settlement and management. Transaction Systems’ solutions are used on more than 3,550 product systems in 79 countries on six continents.Details