Fiserv has entered into a definitive agreement with ACI Worldwide to acquire the assets of its Community Financial Services (CFS) business in an all-cash transaction valued at $200 million, which does not include related tax benefits.
The transaction is subject to regulatory approval and other customary closing conditions and is
anticipated to close in the first quarter of 2016.
The assets acquired provide financial institutions with a suite of digital banking and electronic payments solutions including Architect Banking, which supports online, mobile, and tablet banking for retail banks and small business customers on a single platform.
“We are pleased to add these strong digital banking capabilities which will further enable financial institutions to serve their customers in today’s dynamic world,” said Jeffery Yabuki, President and Chief Executive Officer, Fiserv. “We are also excited to add a talented team of associates who share our vision for creating value for clients through innovation and service excellence.”
Technology solutions included in the transaction are ACI’s Architect Banking, SSB Internet Banking, WebFederal Internet Banking and Advantage Internet Banking solutions; Advantage Consolidated Bank Bill Pay; and ACI Defense Services, a full-service security solution.
“We are proud of the talented people and proven solutions within our CFS business,” said Phil Heasley, President and Chief Executive Officer, ACI Worldwide. “We are confident that CFS clients will be well-served by Fiserv and its long-standing commitment to creating value for banks and credit unions.”
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