Acquisition Speedpay On May 9, 2019, the Company acquired Speedpay, a subsidiary of The Western Union Company (Western Union), for $755.3 million in cash, including working capital adjustments, pursuant to a Stock Purchase Agreement, among the Company, Western Union, and ACI Worldwide Corp., a wholly owned subsidiary of the Company. The Company has included the financial results of Speedpay in the condensed consolidated financial statements from the date of acquisition. The combination of the Company and Speedpay bill pay solutions serves more than 4,000 customers across the U.S., bringing expanded reach in existing and complementary market segments such as consumer finance, insurance, healthcare, higher education, utilities, government, and mortgage. The acquisition of Speedpay increases the scale of the Companys On Demand platform business and allows the acceleration of platform innovation through increased research and development and investment in ACI On Demand's platform infrastructure. To fund the acquisition, the Company amended its existing Credit Agreement, dated February 24, 2017, for an additional $500.0 million senior secured term loan (Delayed Draw Term Loan), in addition to drawing $250.0 million on the available Revolving Credit Facility. See Note 4 , Debt , for terms of the Credit Agreement. The remaining acquisition consideration was funded with cash on hand. The Company expensed approximately $16.6 million and $21.3 million of costs related to the acquisition of Speedpay for the three and six months ended June 30, 2019 , respectively. These costs, which consist primarily of investment bank, consulting, and legal fees, are included in general and administrative expenses in the accompanying condensed consolidated statements of operations. Speedpay contributed approximately $49.3 million in revenue and $7.6 million in operating income for the three and six months ended June 30, 2019 . The consideration paid by the Company to complete the acquisition has been allocated preliminarily to the assets acquired and liabilities assumed based upon estimated fair values as of the date of the acquisition. The allocation of purchase price is based upon external valuation and other analyses that have not been completed as of the date of this filing, including, but not limited to, certain tax matters, software, intangible assets, and accrued liabilities. Accordingly, the purchase price allocations are preliminary and are subject to future adjustments during the maximum one-year allocation period. In connection with the acquisition, the Company recorded the following amounts based upon its preliminary purchase price allocation as of June 30, 2019, which are subject to completion of the valuation and other analyses (in thousands, except weighted average useful lives): Amount Weighted Average Useful Lives Current assets: Cash and cash equivalents $ 135 Receivables, net of allowances 18,422 Settlement assets 239,604 Prepaid expenses 317 Other current assets 19,585 Total current assets acquired 278,063 Noncurrent assets: Goodwill 367,142 Software 113,600 7 years Customer relationships 208,500 15 years Trademarks 10,900 5 years Other noncurrent assets 3,745 Total assets acquired 981,950 Current liabilities: Accounts payable 6,743 Settlement liabilities 212,892 Employee compensation 1,959 Other current liabilities 3,802 Total current liabilities acquired 225,396 Noncurrent liabilities: Other noncurrent liabilities 1,219 Total liabilities acquired 226,615 Net assets acquired $ 755,335 Factors contributing to the purchase price that resulted in the goodwill (which is tax deductible) include the acquisition of management, sales, and technology personnel with the skills to market new and existing products of the Company, enhanced product capabilities, complementary products and customers. Unaudited Pro Forma Financial Information The pro forma financial information in the table below presents the combined results of operations for ACI and Speedpay as if the acquisition had occurred January 1, 2018. The pro forma information is shown for illustrative purposes only and is not necessarily indicative of future results of operations of the Company or results of operations of the Company that would have actually occurred had the transaction been in effect for the periods presented. This pro forma information is not intended to represent or be indicative of actual results had the acquisition occurred as of the beginning of each period, and does not reflect potential synergies, integration costs, or other such costs or savings. Certain pro forma adjustments have been made to net income (loss) for the three and six months ended June 30, 2019 and 2018, to give effect to estimated adjustments that remove the amortization expense on eliminated Speedpay historical identifiable intangible assets, add amortization expense for the value of acquired identified intangible assets (primarily acquired software, customer relationships, and trademarks), and add estimated interest expense on the Companys additional Delayed Draw Term Loan and Revolving Credit Facility borrowings. Additionally, certain transaction expenses that are a direct result of the acquisition have been excluded from the three and six months ended June 30, 2019 and 2018. The following is the unaudited summarized pro forma financial information for the periods presented (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Pro forma revenue $ 334,077 $ 322,407 $ 628,136 $ 626,691 Pro forma net income (loss) 15,249 (7,382 ) (5,996 ) (13,595 ) Pro forma income (loss) per share: Basic $ 0.13 $ (0.06 ) $ (0.05 ) $ (0.12 ) Diluted 0.13 (0.06 ) (0.05 ) (0.12 ) Walletron On May 9, 2019, the Company also completed the acquisition of Walletron, which delivers patented mobile wallet technology. The Company has included the financial results of Walletron in the condensed consolidated financial statements from the date of acquisition, which were not material.