Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Fiserv Acquires Open Solutions - Quick Facts

RELATED NEWS
Trade FISV now with 

Fiserv, Inc. (FISV: Quote) announced that it has acquired Open Solutions Inc. for a purchase price of $55 million, and Fiserv assumed approximately $960 million of debt. The transaction was completed on January 14, 2013.

In conjunction with the acquisition, Fiserv said it will benefit from an acquired tax asset with a net present value at the time of purchase of about $165 million.

Through this acquisition, Fiserv will also add several other key solutions, including the CUnify and TotalPlus account processing platforms, Weiland Account Analysis for commercial account analysis, tools that enable the creation and sharing of client-developed functionality, and Raddon Financial Group, which offers performance consulting services.

The company said it expects to achieve annualized revenue synergies in connection with the acquisition of at least $75 million, and annualized cost synergies in excess of $50 million, over the next several years.

Click here to receive FREE breaking news email alerts for Fiserv Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Yeast bloodstream infections, which are caused by Candida species, are a type of fungal infection, and if untreated, can result in serious medical complications. People who have a weak immune system, or are hospitalized in intensive care units, or have kidney disease needing dialysis, or have had abdominal surgery are said to be at risk of developing yeast bloodstream infections. After moving mostly higher over the course of the previous week, stocks showed a notable move back to the downside during trading on Monday. With the drop on the day, the Dow pulled back well off last Friday's record closing high. After reporting four consecutive monthly increases, the National Association of Realtors released a report on Monday showing an unexpected drop in U.S. existing home sales in the month of August. NAR said existing home sales fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million in August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.