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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 (Date of earliest event reported): September 7, 1999
SECURITY FIRST TECHNOLOGIES CORPORATION
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(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
DELAWARE 000-24931 58-2395199
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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3390 PEACHTREE ROAD, NE, SUITE 1700, ATLANTA, GEORGIA 30326
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(Address of principal executive offices)
Registrant's telephone number, including area code: (404) 812-6300
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NOT APPLICABLE
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On September 7, 1999, Security First Technologies Corporation
("S1") announced that S1 and the shareholders of FICS Group, N.V. ("FICS") are
in discussions regarding new terms of the previously announced agreements under
which S1 agreed to acquire FICS. S1 determined that it is in the best interest
of its shareholders to negotiate new terms which involve reducing the aggregate
number of shares of S1 common stock that would be issued in the transaction, as
well as creating an earn-out for a percentage of the shares. Unless and until
there is a definitive agreement, there can be no assurance an agreement will be
reached.
On May 17, 1999, S1 announced agreements to acquire FICS and
Edify Corporation ("Edify") in separate transactions. These discussions do not
affect the Edify transaction, which is expected to close in the fourth quarter
of 1999.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
Exhibit
No. Description
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99 Press release, dated September 7, 1999.
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EXHIBIT INDEX
Exhibit
No. Description
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99 Press release, dated September 7, 1999.
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SIGNATURES
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 hereunto duly authorized.
SECURITY FIRST TECHNOLOGIES CORPORATION
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(Registrant)
/s/ ROBERT F. STOCKWELL
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Robert F. Stockwell
Chief Financial Officer and Treasurer
Date: September 8, 1999
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Exhibit 99
FOR MORE INFORMATION CONTACT:
Robert F. Stockwell
Security First Technologies
404-812-6780
SECURITY FIRST TECHNOLOGIES AND FICS
DISCUSSING NEW TERMS OF ACQUISITION
ATLANTA, GA -- SEPTEMBER 7, 1999 - Security First Technologies (Nasdaq:
SONE) announced today that Security First Technologies and the shareholders of
FICS Group, N.V. are in discussions regarding new terms of the previously
announced agreements under which Security First Technologies agreed to acquire
FICS. Security First Technologies determined it is in the best interest of its
shareholders to negotiate new terms which involve reducing the aggregate number
of shares of Security First Technologies common stock that would be issued in
the transaction, as well as creating an earn-out for a percentage of the shares.
Unless and until there is a definitive agreement, there can be no assurance an
agreement will be reached.
On May 17, 1999, Security First Technologies announced agreements to
acquire FICS Group and Edify Corporation in separate transactions. These
discussions do not affect the Edify transaction, which is expected to close in
the fourth quarter 1999.
ABOUT SECURITY FIRST TECHNOLOGIES
Security First Technologies (NASDAQ: SONE) builds, delivers and operates
integrated, transactional and brandable Internet applications for financial
institutions. Security First Technologies' secure solutions are available for
in-house implementations or can be outsourced to the Security First Technologies
Data Center. Security First Technologies also offers training, product
integration and customer service center
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outsourcing. Security First Technologies, through direct sales and channel
partnerships, has agreed to provide software applications and technology to more
than 100 financial entities. Security First Technologies can be reached at
www.S1.com.
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