Fiserv Buys Rival Fintech Vendor Open Solutions

What's Next In Payments®
6:45 AM EDT January 15th, 2013

Fiserv has acquired rival fintech vendor Open Solutions for $55 million in a deal that also sees it assume around $960 million of debt, Finextra reported.

Jeffery Yabuki, president and CEO, Fiserv: “Open Solutions provides several growth opportunities, including a real-time account processing capability that serves multiple charter types, languages and currencies on a single platform.”

Finextra added that the vendor’s flagship product, the DNA real-time, open technology account processing platform is used by more than 800 clients and that Fiserv plans to add some of the features contained in its Acumen account processing platform to DNA in the future.

Read the full story here.

Comments
Also by This Author
What's Hot
Company Spotlight
MasterCard Forecasts Future of Biometric Payments
News
Shopper Gets 422 Million Amex Reward Points – But Why?
News
Amex Gets Booted Out Of Costco Canada
News
SEC Investigates Western Union Over Digital Revenue Projections
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Hmmm
Alibaba IPO Is Done, So Now What?
Uncategorized
flem
Webinars
Defining the Future of Payments Security
B2B Payments
Innovating ERP With Analytics
View All Articles ››