Brookfield-based financial services technology provider Fiserv Inc. announced Wednesday that it plans to acquire a division of global electronic banking and payment solutions provider ACI Worldwide for $200 million in cash.
Through the transaction, Fiserv will acquire the assets of Naples, Fla.-based ACI’s Community Financial Services business, subject to regulatory approval. The deal is expected to close in the first quarter.
Fiserv will add a suite of digital banking and electronic payment products to its existing offerings. Among the assets is Architect Banking, a platform that hosts small business and retail bank services from any device. Fiserv launched a mobile banking platform for business in March.
Also included in the transaction are: 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.
Fiserv, which has 21,000 employees, will add 300 ACI employees to its workforce, who are based both in the U.S. and in India.
“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 of 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.”
“Fiserv is committed to remaining the leader in enabling financial institutions to deliver differentiated experiences to their customers with an important focus on service delivery in an anytime, always-on world,” said Britt Zarling, a spokesperson for Fiserv. “We acquired a suite of digital banking and payments solutions from ACI that enhance our ability to extend the digital banking highway and allow consumers and businesses to transact the way they want, when they want.”
“We are proud of the talented people and proven solutions within our CFS business,” said Phil Heasley, president and chief executive officer of 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.”
