Form 8-K -- TSA Restructuring -- 10-07-05
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of Report: October 5, 2005
(Date
of earliest event reported)
_________________________
TRANSACTION
SYSTEMS ARCHITECTS, INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
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0-25346
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47-0772104
|
|
(State
or other jurisdiction
of
incorporation
|
(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
224
South 108th Avenue,
Omaha,
Nebraska 68154
(Address
of principal executive offices, including zip code)
(402)
334-5101
(Registrant’s
telephone number, including area code)
_________________________
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
r
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
r
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
r
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
r
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
2.05. Costs Associated with Exit or Disposal Activities.
On
October 5, 2005, Transaction Systems Architects, Inc. (the “Company”) issued a
press release announcing a restructuring of its organization, effective
immediately, combining its three business units into one operating unit under
the ACI Worldwide name. In examining the Company’s market, opportunities and
organization, it was decided that creating a single operating unit provides
the
Company with the best opportunities for focus, operating efficiency and
strategic acquisition integration. The Company anticipates that the
restructuring will be substantially completed by the end of fiscal 2006. As
a
result of this restructuring, the Company currently expects restructuring
charges of approximately $1.2 million during the fourth quarter of fiscal 2005,
with an additional $2.1 million to $2.8 million during fiscal 2006. These
estimated restructuring charges consist of termination benefits of $1.6
to
$1.7 million; office establishment and/or relocation, along with employee hiring
and/or relocation, charges of $1.4 million to $1.8 million; and other charges
of
$0.3 million to $0.5 million. Substantially all of the aforementioned
restructuring charges would result in future cash expenditures. The Company
also
announced that Dennis D. Jorgensen, President of the IntraNet Worldwide business
unit, will be retiring coincident with the restructuring.
A
copy of this press release is attached hereto as Exhibit 99.1.
Item
5.02. Departure, Election, or Appointment of Directors or
Officers.
The
information set forth under Item 2.05 is incorporated into this Item 5.02 by
reference.
Item
9.01. Financial Statements and Exhibits.
Exhibit
99.1 -- Press Release dated October 5, 2005.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
| |
TRANSACTION
SYSTEMS ARCHITECTS, INC.
|
|
Date:
October
7,
2005
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By:
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/s/
Dennis P. Byrnes
|
| |
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Dennis
P. Byrnes
Senior
Vice President
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EXHIBIT
INDEX
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Exhibit
No.
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Description
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Exhibit
99.1
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Press
Release dated October 5, 2005.
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