logo
Share SHARE
FONT-SIZE Plus   Neg

Fiserv Acquires Open Solutions - Quick Facts

Fiserv, Inc. (FISV) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Los Angeles City officials have filed criminal charges against Soylent CEO Robert Rhinehart for placing a bright red shipping container on Montecito Heights hillside as part of his "experiment in sustainable living." City Attorney Mike Feuer Friday announced that his office has filed multiple criminal... A new study says that if Hillary Clinton is elected then her proposals will strengthen the U.S. economy and create millions of jobs. According to Moody's Analytics, Hillary Clinton's economic proposal would oversee a "somewhat stronger U.S. economy." The conclusion was reached after assessing her... Oil company Exxon Mobil Corp. on Friday reported a 59 percent fall in profit for the second quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results of both companies were impacted by the low crude oil and natural gas prices as well as weaker refining margins.
comments powered by Disqus
Follow RTT